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Copper futures settle higher on strong dollar

07 Jun 2024 Evaluate
Copper futures settled higher on Thursday as the US dollar strengthened against its major peers ahead of Friday’s key labour data from the United States, which could gauge the Federal Reserve's next moves on interest rates. Moreover, strong demand expectations from China also helped metal prices to trade higher. 

Copper futures for July delivery gained $0.0720 to settle at $4.6780 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 2.25 percent at $10,149 a ton.