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Copper futures settle higher on Monday

16 May 2023 Evaluate

Copper futures settled higher on Monday due to liquidity injection by PBOC, China's central bank in a bid to bolster economic growth. Moreover, weakness in the US dollar makes dollar-denominated copper more attractive to buyers holding other currencies.

Copper futures for July delivery gained $0.0225 to settle at $3.7510 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.24 percent at $8,272.50 a ton.