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Copper futures end higher on corona virus vaccine optimism

10 Nov 2020 Evaluate

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.