Copper futures settled higher on Friday on robust demand from top metal consumer China following releases of Chinese December official manufacturing and non-manufacturing PMI readings in line with market expectations, which indicating quicker recovering in industry and services businesses. Moreover, a drop in US initial jobless claims and surging oil prices also boosted industrial metal prices.
Copper futures for March delivery gained $0.0710 to settle at $4.4635 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.3 percent at $9,720.50 a ton.
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