Copper futures extended gains on Friday following growing optimism of corona virus vaccines. US Pharmaceutical giant Pfizer Inc applied to US health regulators on Friday for emergency use authorization of its Covid-19 vaccine, the first such application in a major step toward providing protection against the new corona virus. Further, possible resumption of US stimulus talks for corona virus relief too supported copper prices’ uptrend.
Copper futures for December delivery gained $0.0890 to settle at $3.2910 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 2.6% at $7,277.50 a ton.