Copper futures ended higher on Tuesday tracking Wall Street gains overnight, despite worries about surging cases of highly contagious Delta variant around the world that could slow global economic recovery. However, some gains were limited following the world’s top metal consumer China keeping its one-year loan prime rate unchanged at 3.85%, while the five-year remained at 4.65%.
Copper futures for September delivery gained $0.0615 to settle at $4.2630 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.24 percent at $9,336 a ton.