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Copper futures end higher on US stimulus package optimism

22 Jan 2021 Evaluate

Copper futures ended higher on Thursday, supported by continued optimism about massive $1.9 trillion US stimulus package after the inauguration of new US President Joe Biden. Further, a lower US currency makes dollar-denominated metals cheaper to purchase for holders of foreign currencies.

Copper futures for March delivery gained $0.0060 to settle at $3.6475 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.29% at $8,021.50 a ton.