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Copper futures settle down as dollar strengthens

09 May 2024 Evaluate

Copper futures settled down on Wednesday after the US dollar strengthened overseas that makes copper more expensive for holders of other currencies. Moreover, plans for additional measures to bolster the world’s second largest economy supported copper prices’ uptrend.

Copper futures for July delivery lost $0.0630 to settle at $4.5425 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.25 percent at $9,904 a ton.