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Copper futures trade higher on weaker dollar

26 Dec 2023 Evaluate

Copper futures traded higher on Tuesday, supported by a weaker US dollar and falling bond yields due to growing expectations that the US Federal Reserve might cut interest rates as early as March of 2024. Moreover, cooler than expected US inflation data also strengthened Fed rate cut bets.

Copper futures for March delivery gained 0.35% or $0.0135 at $3.9185 a pound on the Comex metals division of New York Mercantile Exchange.