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Copper futures settle higher on stimulus hopes from China

25 Jan 2024 Evaluate
Copper futures settled higher on Wednesday on hopes of more stimulus measures from the world’s top metals consumer China. China has unveiled a plan to cut reserve requirement ratio for banks in a bid to boost its economic growth. Meanwhile, weakening US dollar makes copper more attractive for buyers using other currencies.

Copper futures for March delivery gained $0.0925 to settle at $3.8860 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.87 percent at $8,562.50 a ton.