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Copper futures settle higher on weaker dollar

16 Jun 2023 Evaluate

Copper futures settled higher on Thursday, supported by a weaker dollar along with hopes that the world’s top metal consumer will do more to support the economy. However, some gains were capped as the US Federal Reserve signalled that it might raise interest rates twice more this year.

Copper futures for July delivery gained $0.0310 to settle at $3.9010 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 $8,558 a ton.