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Copper futures end higher on soft US dollar

03 Feb 2022 Evaluate

Copper futures ended higher on Wednesday tracking softness in the US dollar, which making greenback-denominated metals cheaper for holders of other currencies. However, some gains in copper were limited as markets in the World’s top metals consumer China were shut for a week-long holiday.

Copper futures for March delivery gained $0.0620 to settle at $4.4960 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.47 percent at $9,839.50 a ton.