Copper futures settle higher on weaker dollar
Copper futures settled higher on Thursday as the US dollar weakened against its major peers overseas after the US economy is showing stronger momentum than initially thought, along with bets that the US central bank will cut interest rates next month after New York Fed chief John Williams signaled such a move was possible. Moreover, signs of recovery in China's industrial profits also supported copper prices’ up-move.
Copper futures for September delivery gained $0.0435 to settle at $4.5390 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.64 percent at $9,818 a ton.
