Copper futures ended higher on Thursday, bolstered by strong economic data from US that offset investors’ concerns over the spread of the Omicron coronavirus variant which could dampen which could dampen global economic growth and demand for industrial metals. The Labor Department released a report showing a modest rebound by initial jobless claims in the week ended November 27th. The report said initial jobless claims rose to 222,000, an increase of 28,000 from the previous week's revised level of 194,000. Street had expected jobless claims to climb to 240,000 from the 199,000 originally reported for the previous week. However, hawkish signals from the US Federal Reserve also capped further gains in copper prices.
Copper futures for December delivery gained $0.0515 to settle at $4.2990 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.55 percent at $9,496 a ton.