Copper futures settled higher on Thursday due to strong demand following the return of the world's top metal consumer China from a week long Lunar New Year holiday, while supply is expected to remain tight. Copper prices improved further on hopes for more US fiscal stimulus and that bolstered expectations of a swift global recovery from the Covid-19 pandemic.
Copper futures for March delivery gained $0.0805 to settle at $3.9010 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.94% at $8,553 a ton.