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Copper futures settle higher on weaker US dollar

21 Jul 2022 Evaluate
Copper futures settled higher on Wednesday as a weaker US dollar makes them cheaper for buyers with other currencies. Further, strong US corporate earnings and an easing of gas supply concerns in Europe also supported red metal prices’ uptrend.

Copper futures for September delivery gained $0.0340 to settle at $3.3250 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.38 percent at $7,378 a ton.