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Copper futures trade higher on Monday

26 Aug 2024 Evaluate
Copper futures traded higher on Monday tracking muted dollar overseas following Federal Reserve Chair Jerome Powell's Jackson Hole speech bolstered expectations for an interest rate cut at the September meeting. Moreover, firm demand from the world’s top metal consumer China and falling inventories have also supported red metal prices’ up-move.

Copper futures for September delivery gained by $0.0570 or 1.37% at $4.2050 a pound on the Comex metals division of New York Mercantile Exchange.