Copper futures settled with marginal gains on Thursday after reports showed Copper output in Chile, the world’s largest producer of the metal, declined 7 percent year-on-year to 399,817 tons in February. Although, some gains were limited by concerns over demand following the worst resurgence of Covid-19 cases in top consumer China. Meanwhile, investors are awaiting for US jobs data in March for clues to policy tightening.
Copper futures for May delivery gained $0.0005 to settle at $4.7510 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.07 percent at $10,375 a ton.