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Copper futures trade higher on demand rebound expectations

23 May 2022 Evaluate

Copper futures traded higher on Monday as the prices hit over 2-week high due to hopes of higher demand after plans to ease Covid-19 restrictions and lockdowns that has lasted more than six weeks in the world’s top metal consumer China. Further, weaker US dollar also makes dollar-denominated metals more attractive for buyers holding other currencies.

Copper futures for July delivery gained $0.0275 or 0.64% at $ 4.3025 a pound on the Comex metals division of New York Mercantile Exchange.