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Copper futures settle higher on weaker dollar

20 Jan 2024 Evaluate

Copper futures settled higher on Friday as a weaker dollar makes copper cheaper for holders of other currencies. Copper prices also boosted by lower exchange inventories. However, some gains were limited by cautious trading ahead of the Chinese New Year and continued geopolitical tensions.

Copper futures for March delivery gained $0.0415 to settle at $3.7865 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.49 percent at $8,351 a ton.