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Copper futures finish higher on strengthening Chinese demand

21 Oct 2020 Evaluate

Copper futures ended higher on Tuesday amid strengthening demand from world’s top consumer China. Copper prices improved further on renewed hopes about a new round of US stimulus package after US President Donald Trump said he was willing to accept a large aid bill even as opposition from his own Republican Party. However, mounting concerns surrounding surging corona virus infections capped some gains on copper prices.

Copper futures for December delivery gained $0.0620 at $3.1480 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.76% at $6,899 a ton.