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Copper futures settle higher as dollar weakens

09 Apr 2021 Evaluate

Copper futures ended higher on Thursday as weakness in the US dollar in response to dovish comments from the US Federal Reserve makes dollar-priced metals cheaper for holders of other currencies. Although, demand worries from world’s top metal consumer China with rising global inventories capped some gains on copper prices.

Copper futures for May delivery gained $0.0400 to settle at $4.0945 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.04% at $9,008 a ton.