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Copper futures settle higher on weaker dollar

19 Jul 2022 Evaluate
Copper futures settled higher on Monday as China's banking regulator urged lenders to extend loans to qualified real estate projects to ease concerns over financial distress facing its property sector. Copper prices also supported by a weaker dollar, which makes dollar-denominated commodities more affordable for holders of other currencies.

Copper futures for September delivery gained $0.1120 to settle at $3.3460 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 3.28 percent at $7,426.50 a ton.