Skip to main content

MoneyWorks4Me

Copper futures settle higher on Thursday

14 Jul 2023 Evaluate
Copper futures settled higher on Thursday as soft US inflation data spurred expectations on a less aggressive US Federal Reserve, while prospect of more stimulus measures in the world's top metal consumer China also supported red metal prices’ up-move. Moreover, weaker US dollar also benefited copper prices.

Copper futures for September delivery gained $0.0870 to settle at $3.94 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 2.29 percent at $8,694 a ton.