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Copper futures settle higher on weak dollar

28 Aug 2021 Evaluate

Copper futures settled higher on Friday as the dollar weakened and after US Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole Symposium calmed market expectations for imminent stimulus tapering. However, concerns over continued spread of the Delta coronavirus variant capped further gains in copper prices.

Copper futures for September delivery gained $0.0710 to settle at $4.3185 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.19 percent at $9,410 a ton.