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Copper futures settle higher on strong Chinese demand

16 Oct 2020 Evaluate

Copper futures ended higher on Thursday due to strong demand from world’s top consumer China, despite lingering concerns over surging corona virus cases around the globe. Copper prices improved further by reports that US President Donald Trump said he is willing to increase his stimulus offer of $1.8 trillion, which Democrats rejected as insufficient.

Copper futures for December delivery gained $0.0350 to settle at $3.0855 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.49% at $6,749.00 a ton.