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Copper futures end higher on supply concerns

16 Oct 2021 Evaluate

Copper futures ended higher on Friday as surging power prices and energy shortages forced more production cuts in the world’s top metal consumer. Copper prices improved further as US dollar retreated from a one-year high, while investors focusing for signals of when the US central bank will start to hike interest rates.

Copper futures for December delivery gained $0.0980 to settle at $4.7295 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 2.97 percent at $10,281 a ton.