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Copper futures settle higher on Friday

27 Mar 2021 Evaluate

Copper futures ended higher on Friday, supported by optimism over fast global recovery on positive US labor data. The data revealed that claims for unemployment benefit dipped to a one-Year low last week. Further, Covid-19 vaccine developments too supported the red metal prices. However, fears over a third wave of COVID-19 in Europe, capped further gains.

Copper futures for May delivery gained $0.0900 to settle at $4.0680 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 2.08% at $8,962.00 a ton.