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Copper futures trade down as dollar strengthens

13 Jan 2025 Evaluate
Copper futures were trading down on Monday as the US dollar strengthened against its major peers overseas after stronger-than-expected US payrolls data fuelled increased expectations that interest rates will fall at a slower pace in 2025. Meanwhile, uncertainties around the incoming US Trump administration's policies also adding pressure on commodity prices. However, some falls were limited on revived hopes of more stimulus from top consumer China as PBoC chief said that it will support moderately loose monetary policy to maintain ample liquidity as it tries to stimulate the economy and soften the impact of geopolitical uncertainties.

Copper futures for March delivery lost $0.0085 or 0.2% at $4.2955 a pound on the Comex metals division of New York Mercantile Exchange.

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