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Copper futures settle higher on stimulus hopes from Beijing

10 Aug 2023 Evaluate
Copper futures settled higher on Wednesday due to expectations of more stimulus measures from Beijing to perk up growth following a series of poor data. Weakness in US dollar also supported copper prices’ uptrend. However, some gains were capped with expectations that US interest rates will remain higher for longer this year.

Copper futures for September delivery gained $0.0170 to settle at $3.7835 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.6 percent at $8,397.50 a ton.