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Copper futures settle higher as US dollar plummeted

11 Aug 2022 Evaluate
Copper futures settled higher on Wednesday as the US dollar plummeted against its rivals after data showed US inflation was weaker than expected, that fueled expectations that interest rate hikes would be less aggressive in future. Moreover, tight inventories across base metals also supported prices.

Copper futures for September delivery gained $0.064 to settle at $3.6495 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.28 percent at $8,085.50 a ton.