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Copper futures settle up on higher demand hopes

06 May 2021 Evaluate

Copper futures settled up on Wednesday, boosted by expectations of higher demand as the world’s largest economies showed signs of recovery from the corona-virus impact. Copper prices improved further as dollar weakened slightly after the US private payroll data for April missed market expectations.

Copper futures for July delivery gained $0.0025 to settle at $4.5240 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was down 0.17% at $9,949.50 a ton.