Copper futures ended higher on Friday as the dollar’s weakness against its major peers has supported copper demand. Copper prices improved further after data showed the world’s top metals consumer China’s industrial profits advanced 28.2 percent on a yearly basis in October, marking the sixth consecutive rise in profits as the economy showed signals of robust rebound from the corona virus driven downturn.
Copper futures for March delivery gained $0.0870 to settle at $3.4175 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.31% at $7,499.50 a ton.