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Copper futures settle higher in spite of strong US dollar

11 Feb 2022 Evaluate

Copper futures settled higher on Thursday on account of inventors enlarged positions globally, even as dollar strengthened after stronger-than-expected US inflation data that fuelled worries about a more aggressive policy tightening by the US Federal Reserve. Thursday data showed that US consumer prices rose to 7.5% year-on-year in January against the forecasts for a rise of 7.3%.

Copper futures for March delivery gained $0.0570 to settle at $4.6595 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.94 percent at $10,254 a ton.

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