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Copper futures end higher on hopes of demand from China

08 Dec 2021 Evaluate

Copper futures ended higher on Tuesday after the world’s top metal consumer China said it would cut its bank reserves requirement fuelled hopes for stronger economic growth and demand for industrial metals. While, climbing Chinese imports in the month of November also added support to copper prices’ uptrend. However, uncertainties over the impact of the Omicron variant of Covid-19 adding pressure on copper prices and capped its gains.

Copper futures for March delivery gained $0.0020 to settle at $4.3395 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.95 percent at $9,595 a ton.

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