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Copper futures settle higher on China economic support pledge

04 Jan 2025 Evaluate
Copper futures settled higher on Friday after China pledged more support for its ailing economy. China's state planner confirmed the move by saying that it would sharply increase funding from ultra-long treasury bonds in 2025 to spur business investment and consumer-boosting initiatives. Copper prices improved further as the US dollar dipped against most major rivals overseas. Although some gains were limited by uncertainty surrounding the threat of US tariffs on China by US president-elect Donald Trump. 

Copper futures for March delivery gained $0.0475 to settle at $4.0735 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.84 percent at $8,876.50 a ton.

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