COMMODITY
Copper futures settle higher on softer American currency overseas
Sep-19-2024
Copper futures settled higher on Wednesday as a softer American currency at overseas markets makes copper cheaper for buyers using other currencies. Copper prices improved further after the US Federal Reserve announced an interest rate cut for the first time in over four years, aggressively slashing rates by half a percentage point, citing progress in slowing inflation toward the Fed’s 2% target. 

Copper futures for December delivery rose $0.0260 to settle at $4.2990 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.33 percent at $9,400.50 a ton. 

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