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Copper futures settle higher on Friday

27 Apr 2024 Evaluate

Copper futures settled higher on Friday, supported by soaring global demand. A tight supply outlook also supported copper prices’ uptrend. Meanwhile, a hotter-than-expected US inflation data, signalled the Federal Reserve could keep interest rates elevated for a while.

Copper futures for July delivery gained $0.0355 to settle at $4.5740 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.02 percent at $9965.50 a ton.