Copper futures ended higher on Monday due to optimism over corona virus vaccine after Pfizer Inc said its experimental vaccine was more than 90% effective based on initial data from a large study, and that fueled hopes for a quick economic recovery from the pandemic-driven crisis. Further, weakening US dollar and Democrat Joe Biden’s US presidential election victory also added support to copper prices’ uptrend.
Copper futures for December delivery gained $0.0020 to settle at $3.1560 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was down 0.44% at $6,916 a ton.