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Copper futures settle higher on Monday

16 Apr 2024 Evaluate
Copper futures settled higher on Monday supported by the imposition of new US and UK sanctions on Russian metals. However, firm American currency at overseas markets, uncertainty over US Federal Reserve’s interest rate cuts and heightened middle east tensions have limited further gains in copper prices.

Copper futures for May delivery gained $0.1205 to settle at $4.3790 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.25 percent at $9,576 a ton.