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Copper futures end higher on weaker dollar

06 Jan 2021 Evaluate

Copper futures ended higher on Tuesday driven by a weaker US dollar against its major peers, while the investors focused the outcome of the US Senate runoff elections in Georgia that will decide the prospects of further stimulus. Further, hopes of firm demand from world’s top consumer China and falling inventories too added support to copper prices’ uptrend.

Copper futures for March delivery gained $0.0850 to settle at $3.6395 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.8% at $8,002 a ton.