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Copper futures settle higher on improved Chinese demand

02 May 2023 Evaluate

Copper futures settled higher on Monday, even with expectations of a 25-basis point interest rate hike by the US Federal Reserve this week. Improved demand from the world’s top metal consumer China supported copper prices’ up move.

Copper futures for July delivery gained $0.0435 to settle at $3.9340 a pound on the Comex metals division of New York Mercantile Exchange.