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Copper futures climbed above $6.5 per pound on Monday, recovering some of last week’s losses as weaker-than-expected US jobs data reduced pressure on the Federal Reserve to raise interest rates further.Higher interest rates would generally weigh on non-yielding assets such as commodities.Longer-ter…
Copper edged higher on Monday alongside equities as expectations of another Federal Reserve rate hike cooled following the latest US employment data.
Traders also watched for potential Chile mine strikes, with the LME cash premium widening to nearly $73.50 a ton.