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Copper futures settle higher amid weaker American currency

28 Dec 2023 Evaluate
Copper futures settled higher on Wednesday tracking weaker American currency against key rivals on expectations that the US Federal Reserve could soon cut its interest rates. Further, concerns over tight global supplies on the back of major mine closures in Panama and Peru has also supported copper prices’ up move. Moreover, hopes of economic stimulus measures from the world’s top metal consumer China has also kept copper prices high.

Copper futures for March delivery gained $0.0575 to settle at $3.9595 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.36 percent at $8,690.50 a ton.

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