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Copper futures settle higher on lower inventory levels in China

09 May 2023 Evaluate

Copper futures settled higher on Monday due to lower inventory levels in the world’s top metal consumer China. Although, investors are awaiting with caution for US inflation data later this week to get clarity on the US Federal Reserve's monetary policy. Weaker than expected demand in China has also limited further gains in copper prices.

Copper futures for July delivery gained $0.0465 to settle at $3.9295 a pound on the Comex metals division of New York Mercantile Exchange.