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Copper futures trade higher on weaker US dollar

25 Nov 2024 Evaluate

Copper futures were trading higher on Monday followed by a weaker US dollar after investors reacted to the appointment of Scott Bessent as US Treasury secretary, while investors are awaiting the Federal Reserve’s minutes of November monetary policy committee meeting due later tomorrow. Although concerns over Chinese demand and new tariffs have limited further gains in copper prices.

Copper futures for December delivery rose by $0.0190 or 0.47% at $4.1050 a pound on the Comex metals division of New York Mercantile Exchange.