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Copper futures settle with marginal gains on Thursday

01 Apr 2022 Evaluate

Copper futures settled with marginal gains on Thursday after reports showed Copper output in Chile, the world’s largest producer of the metal, declined 7 percent year-on-year to 399,817 tons in February. Although, some gains were limited by concerns over demand following the worst resurgence of Covid-19 cases in top consumer China. Meanwhile, investors are awaiting for US jobs data in March for clues to policy tightening.

Copper futures for May delivery gained $0.0005 to settle at $4.7510 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.07 percent at $10,375 a ton.