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Copper futures settle higher on Friday

26 Nov 2022 Evaluate
Copper futures settled higher on Friday following the world’s top metal consumer China's supportive measures for its economy and the metals-intensive property sector. Copper prices improved further as the US dollar weakened with prospect that the US central bank will raise interest rates at a slower pace in December. However, China’s worst Covid-19 outbreak and expanding lockdowns capped further gains in red metal prices.

Copper futures for December delivery gained $0.0095 to settle at $3.6275 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.41 percent at $8,008 a ton.

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