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Copper futures settle higher on soft American currency overseas

04 Jun 2024 Evaluate
Copper futures settled higher on Monday as soft American currency makes dollar-priced metals cheaper for buyers with other currencies. Copper prices improved further after data from the world’s top metal consumer China showed stronger factory activity, while stabilized US inflation data reinforced expectations of interest rate cut by the Federal Reserve this year. 

Copper futures for July delivery gained $0.0655 to settle at $4.6675 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.03 percent at $10,143 a ton.