Copper futures ended higher on Thursday as the world’s top metal consumer China decided to release another 30,000 tonnes of copper from its state reserves on July 29, less than the market has anticipated. Further, weakening American currency and dwindling inventories also supported red metal prices.
Copper futures for September delivery gained $0.0655 to settle at $4.3375 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.01 percent at $9,441.50 a ton.