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Copper futures settle higher on tight inventories

29 Sep 2022 Evaluate
Copper futures settled higher on Wednesday as inventories of copper in China bonded warehouses were at their lowest on record of 81,800 tons. However, stronger US dollar and potential global recession fears capped further gains in copper prices.

Copper futures for December delivery gained $0.0750 to settle at $3.3585 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.94 percent at $7,422 a ton.