Copper futures ended higher on Thursday after the US House of Representatives gave final approval to one of the largest economic stimulus measures in American history, which boosted the market optimism. Further, the US dollar weakened slightly after US CPI data calmed inflation fears too supported copper prices’ uptrend. Moreover, data showing that new bank lending in China fell less than expected in February also boosted market’s confidence over demand from the world’s top metal consumer.
Copper futures for May delivery gained $0.1065 to settle at $4.1390 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 2.21% at $9,057.50 a ton.
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