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Copper futures settle higher ahead of US payrolls report

26 Oct 2024 Evaluate
Copper futures settled higher on Friday as investors awaited next week's US payrolls report to gauge the trajectory of the Federal Reserve's policy path. Copper prices improved further on expectations for additional fiscal stimulus measures from China which are expected to be announced at the upcoming National People’s Congress Standing Committee meeting. However, some gains were limited by firm US dollar, ongoing conflict in the Middle East and increasing uncertainty over who will win in the US presidential election.

Copper futures for December delivery gained $0.0190 to settle at $4.3705 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1 percent at $9,602.50 a ton.