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Copper futures settle higher on weak US dollar

01 Jul 2023 Evaluate

Copper futures settled higher on Friday tracking weak US dollar which makes copper cheaper to holders of other currencies. Meanwhile, weak factory activity data from the world’s top metal consumer China stoked expectations of fresh stimulus measures, also supported copper prices’ uptrend.

Copper futures for September delivery gained $0.0605 to settle at $3.7595 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.69 percent at $8,315.50 a ton.