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22-Sep2018

Copper futures end higher on eased trade tensions

Copper futures ended higher on Friday as concerns about the impact of trade tensions on the global economy continued to ease after tariffs announced this week were set at lower rates than had been expected and China announced steps to boost its economy. Further, US currency, which has been viewed as a safe haven during the trade dispute, was weaker for a second week, supporting dollar-priced metals by making them cheaper for buyers with other currencies.

Copper futures for December delivery added 4.3 percent to settle at $2.8575 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended up 4.6 percent at $6,363 a metric ton.


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