COMMODITY
Copper futures settle higher on Thursday
Apr-26-2024

Copper futures settled higher on Thursday, due to prospects of tight supplies and estimates of new demand from energy transition applications. Meanwhile, investors back away from expectations that central bank can reduce rates in coming months after weak GDP data. The report released by the Commerce Department showed the GDP rose by 1.6% in the first quarter after surging by 3.4% in the fourth quarter of 2023. 

Copper futures for May delivery gained $0.06 to settle at $4.5175 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.94 percent at $9865.00 a ton.


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