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Copper futures end higher on stimulus hopes in China

29 Jul 2023 Evaluate

Copper futures settled higher on Friday with expectations of more stimulus measures in the world’s top metal consumer China for the nation’s flagging economy. Moreover, a weak US dollar against major global currencies and diminished prospect of a US recession also supported copper prices’ uptrend. 

Copper futures for September delivery gained $0.0510 to settle at $3.9265 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.09 percent at $8,662.50 a ton.