Copper futures settle higher on Friday
Copper futures settled higher on Friday after a chaotic hours-long outage on CME Group’s Chicago Mercantile Exchange. Copper prices improved after reports that Trump ally Kevin Hassett is now the front-runner to be named the next chair of the FOMC, which reinforced traders’ expectations that the US Federal Reserve will trim interest rates in December and added further downward pressure on US dollar index.
Copper futures for March delivery gained $0.078 to settle at $5.2720 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 2.28% at $11,189 a ton.
