Copper futures ended higher on Thursday as dollar weakened against riskier currencies and asset classes, making dollar denominated metals cheaper to holders of other currencies. Besides, easing concerns about the Omicron coronavirus variant after a South African study suggesting that reduced risks of hospitalisation and severe disease in people infected with the Omicron variant versus the Delta one. Meanwhile, upbeat economic data from the world’s largest economy also supported red metal prices’ uptrend.
Copper futures for March delivery gained $0.0010 to settle at $4.3925 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.05 percent at $9,612 a ton.