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Copper futures end higher on vaccine optimism

11 Dec 2020 Evaluate

Copper futures ended higher on Thursday following optimism over Covid-19 vaccines. Britain began vaccinations this week and the United States could start vaccinations as soon as this weekend. Further, weakening US dollar made dollar-priced metals cheaper for buyers using other currencies. Though, rising Covid-19 infections and uncertainty on additional US fiscal stimulus added some pressure and capped gains on copper prices.

Copper futures for March delivery gained $0.0625 to settle at $3.5760 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 2.01% at $7,878 a ton.