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Copper futures settle higher on Monday

27 Aug 2024 Evaluate
Copper futures settled higher on Monday, fuelled by investor optimism for imminent US interest rate cuts after Fed Chair Jerome Powell's dovish remarks at the Jackson Hole Symposium. Moreover, declining metal inventories and signs of improving demand from the world’s top metal consumer China have also bolstered copper sentiments.

Copper futures for September delivery gained $0.0175 to settle at $4.2185 a pound on the Comex metals division of New York Mercantile Exchange.