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Copper futures trade higher on weak dollar overseas

29 Jul 2024 Evaluate
Copper futures are trading marginally higher on Monday tracking weakness in American currency overseas and after Friday’s US PCE price index data cemented investors' expectations for coming cuts to interest rates. Meanwhile investors are focusing on Fed’s interest rate decision this week. Moreover, the decrease in exchange inventories in top consumer China also supported copper prices’ uptrend.

Copper futures for September delivery gained by $0.0060 or 0.15% at $4.13 a pound on the Comex metals division of New York Mercantile Exchange.