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Copper futures settle higher on improved demand outlook

24 Aug 2023 Evaluate

Copper futures settled higher on Wednesday as demand outlook from China improved following positive copper consumption data and speculation over more stimulus measures from the Chinese government. However, strong US dollar makes copper more expensive for buyers holding other currencies. 

Copper futures for September delivery gained $0.0515 to settle at $3.8085 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.07 percent at $8,452.00 a ton.