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29-Aug2018

Copper futures end higher on Tuesday

Copper futures ended higher on Tuesday as the US-Mexico trade deal raised hopes for an agreement between the United States and China. The United States and Mexico agreed on Monday to overhaul the North American Free Trade Agreement (NAFTA), putting pressure on Canada to agree to new terms on auto trade and dispute settlement rules to remain part of the three-nation pact. Further, the lower US currency makes dollar-denominated metals cheaper for non-US firms.

Copper futures for September delivery added 1 percent to settle at $2.736 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended up 0.7 percent at $6,147 a metric ton.


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