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Copper futures settle higher on hopes of improved demand

21 Jun 2024 Evaluate
Copper futures settled higher on Thursday on hopes of improved demand from the world’s top metal consumer China. However, some gains were limited amid uncertainty over Fed’s interest rates with Minneapolis Fed President Kashkari stating it would likely take a year or two for the US to get back to 2% inflation. 

Copper futures for July delivery gained $0.0715 to settle at $4.5620 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.74 percent at $9,858 a ton.