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Copper futures settle higher on firm demand

09 Jun 2023 Evaluate
Copper futures settled higher on Thursday due to firm demand with expectations of stimulus measures from top consumer China. Moreover, weaker US dollar also supported red metal prices. Meanwhile, investors are focusing on the US Federal Reserve's June meeting for directional cues.

Copper futures for July delivery gained $0.0390 to settle at $3.7950 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.65 percent at $8,347.50 a ton.