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15-Sep2016

Copper futures end higher as dollar weakens

Copper futures ended higher on Wednesday, as the dollar declined against a basket of major currencies on receding expectations that the US Federal Reserve will raise interest rates next week. Copper prices improved further on increased demand expectations from the world's top consumer China, following reports that showed China's bank lending more than doubled in August from the previous month.

Copper futures for December delivery gained 2.6 percent to settle at $2.155 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended up 2.6 percent to $4,771.50 a metric ton.


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