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Copper futures settle higher on weak dollar

12 Sep 2023 Evaluate
Copper futures settled higher on Monday as the US dollar weakened ahead of key US inflation data due this week, while the US Federal Reserve is widely expected to keep interest rates on hold in its September meeting. Moreover, optimistic Chinese inflation data along with Beijing’s fresh stimulus measures also supported red metal prices’ uptrend.

Copper futures for December delivery gained $0.0905 to settle at $3.8070 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.94 percent at $8,402 a ton.