Copper futures settled higher on Thursday, supported by a weaker dollar as markets focused on a possible slowdown in the pace of rate hikes. Moreover, hopes for improved demand from the world’s top consumer as China unleashes more infrastructure spending and other stimulus for the economy also supported red metal prices.
Copper futures for September delivery gained $0.0445 to settle at $3.4745 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.64 percent at $7,762 a ton.