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Copper futures settle higher as dollar weakens

07 Jan 2025 Evaluate
Copper futures settled higher on Monday as the US dollar weakened against its major peers after a report said US President-elect Donald Trump’s aides were considering tariffs that would be applied only to critical imports. However, Donald Trump denied the report later. Meanwhile, investors are also awaiting more clues on the US Federal Reserve’s interest rate outlook. Minutes of the US Federal Reserve’s last meeting are due on Wednesday and the US December payrolls report will come on Friday.

Copper futures for March delivery gained $0.088 to settle at $4.1615 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.43 percent at $9,003 a ton.

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