Copper futures ended higher on Thursday due to growing hopes for major US corona virus relief package this week. Further, rollouts of corona vaccines in major economies and declining copper inventories too supported metal prices. Moreover, the dollar declined to its lowest in more than two years against its major peers, makes dollar-denominated commodities cheaper for holders of other currencies.
Copper futures for March delivery gained $0.0425 to settle at $3.6015 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.07% at $7,920 a ton.