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Copper futures settle higher on Tuesday

25 Sep 2024 Evaluate

Copper futures settled higher on Tuesday amid signs of firmer demand in top consumer China after PBoC unveiled aggressive stimulus measures for reviving the country's flagging economy. Moreover, weaker American currency has also supportive for red metal prices’ up-move. Meanwhile, investors are awaiting fresh cues for more US interest rate cuts.

Copper futures for December delivery gained $0.1440 to settle at $4.4915 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 2.59 percent at $9,796 a ton.