COMMODITY
Copper futures settle higher on improved demand
Oct-05-2024
Copper futures settled higher on Friday on improved demand, even as the US dollar strengthened in the wake of stronger than anticipated September jobs data. Data showed that Nonfarm payroll employment rose 254000 in September, much better than the 150000 forecast and the largest monthly increase since March. Moreover, recent stimulus measures introduced by the Chinese government have also bolstered red metal prices’ up-move.

Copper futures for December delivery gained $0.0210 to settle at $4.5740 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.79 percent at $9,943.50 a ton. 

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