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Copper futures settle higher on demand hopes

09 Mar 2023 Evaluate
Copper futures settled higher on Wednesday as expectations of firm demand from China and tight supplies supported red metal prices to go up. Although, hawkish comments from the US Federal Reserve Chair Jerome Powell on interest rates, limited further gains in copper prices.

Copper futures for May delivery gained $0.0520 to settle at $4.0270 a pound on the comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.68 percent at $8,910.50 a ton.