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Copper futures settle higher as US dollar weakens

26 Aug 2022 Evaluate
Copper futures settled higher on Thursday as the US dollar weakened ahead of US Federal Reserve Chairman Jerome Powell's speech later today for further clues about the pace of Fed's rate hikes. Moreover, China’s economic stimulus measures worth of CNY1 trillion ($146 billion) to boost sagging economy also added support to copper prices’ uptrend.

Copper futures for September delivery gained $0.055 to settle at $3.699 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.18 percent at $8,129 a ton.