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Copper futures settle higher on Chinese stimulus hopes

04 Jul 2023 Evaluate
Copper futures settled higher on Monday as slowing activity in Chinese industrial sector fuelled hopes for economic stimulus in the world’s top metal consumer China. Moreover, tight supplies and falling inventories in exchange warehouses also supporting red metal prices’ uptrend.

Copper futures for September delivery gained $0.0345 to settle at $3.7940 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.99 percent at $8,398 a ton.