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Copper futures settle higher on weak US dollar

05 Nov 2024 Evaluate
Copper futures settled higher on Monday tracking weakness in the US dollar ahead of the outcome of the US presidential election this week and expectations of interest rate cuts in the United States. Moreover, prospects of additional stimulus measures from China's major economic meeting this week also supportive to copper prices’ up-move.

Copper futures for December delivery gained $0.059 to settle at $4.4305 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.32 percent at $9,696.50 a ton.