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Copper futures settle higher on strong demand

16 Mar 2024 Evaluate
Copper futures settled higher on Friday due to strong demand after Chinese smelters agreed to trim production in a bid to cope with a raw materials shortage and underperforming plants. Although, firm dollar after stronger than expected US PPI inflation data and lack of big stimulus support in China, have limited further gains in copper prices.

Copper futures for May delivery gained $0.0790 to settle at $4.1245 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 2.08 percent at $9,072 a ton.