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Copper futures trade higher on rate cut expectations

02 Jan 2024 Evaluate
Copper futures traded higher on Tuesday on account of expectations of interest rate cuts from the US Federal Reserve. Copper prices improved further after data showed that China’s manufacturing activity expanded at a quicker pace in December due to stronger gains in output and new orders. Meanwhile, expectations of fresh stimulus measures from China also supporting base metal prices.

Copper futures for March delivery gained 0.22% or $0.0085 at $3.8990 a pound on the Comex metals division of New York Mercantile Exchange.

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