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Copper futures end higher on vaccine optimism

02 Dec 2020 Evaluate

Copper futures ended higher on Tuesday as more optimism over corona virus vaccine continues to boost sentiment after news that both American drug-makers Moderna and Pfizer are applied for emergency authorization in Tuesday to roll out their Covid-19 vaccines in Europe. Copper prices improved further after data showed China's factory activity accelerated at the fastest pace in a decade in November.

Copper futures for March delivery gained $0.0470 to settle at $3.4850 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.51% at $7,694.50 a ton.