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Copper hovers near five-month high on soft US dollar
Copper prices in London were steady on Thursday, hovering around a five-month high hit in the previous session, supported by a softer dollar on bets of interest rate cuts by the US Federal Reserve. Three-month copper on the London Metal Exchange was almost unchanged at $8,687.50 per metric ton by 0444 GMT. The contract hit its highest since Aug. 1 at $8,715 in the previous session. The most-traded February copper contract on the Shanghai Futures Exchange edged up 0.3% at 69,360 yuan ($9,743.08) a ton. It hit the highest since Aug. 1 earlier in the session at 69,870 yuan. Both contracts are set to post a yearly gain. ... (full story)