Skip to main content

MoneyWorks4Me

Copper futures settle higher on firm demand globally

22 May 2024 Evaluate
Copper futures settled higher on Tuesday amidst firm demand globally following the world’s top metal consumer China’s property support measures. However, firm American currency, persisting concerns over US interest rates and geopolitical instability in the Middle East, have limited further gains in copper prices. 

Copper futures for July delivery gained $0.0270 to settle at $5.1060 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.28 percent at $10,859 a ton.