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31.07.202604:11:19UTC+00Copper Set for Weekly and Monthly Gains

Copper futures rose above $6.45 per pound on Friday and were poised to end both the week and the month higher, with gains of about 2% and 4%, respectively. The rally came after the US Federal Reserve kept interest rates unchanged, easing concerns about demand for industrial metals. In China, the world’s largest consumer of copper, the Politburo signaled it would continue to rely on existing policy tools rather than roll out broad-based stimulus, stressing the need to “fully use” current measures while directing fiscal spending and bond issuance toward supporting demand and enhancing supply. At the same time, copper prices continued to be underpinned by a robust long-term demand outlook, driven by the global shift to clean energy and the rapid build-out of artificial intelligence data centers.

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