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Copper futures settle higher on weaker dollar

15 Jun 2023 Evaluate
Copper futures settled higher on Wednesday supported by weaker dollar, which making dollar-priced metals cheaper for holders of other currencies. Moreover, expectations of further stimulus measures to boost economic growth in China also supported copper prices’ uptrend. Meanwhile, data showed China’s refined copper output declined m-o-m in May, because of smelters' maintenance.

Copper futures for July delivery gained $0.0390 to settle at $3.87 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.58 percent at $8,509 a ton.