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Copper futures settle higher on US debt ceiling optimism

18 May 2023 Evaluate
Copper futures settled higher on Wednesday due to firm demand with optimism over raising the US debt ceiling limit. However, looming fears of a US recession and a rebound in the US dollar index limited further gains in copper prices.

Copper futures for July delivery gained $0.0875 to settle at $3.7545 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 2.22 percent at $8,302 a ton.