Copper futures settled higher on Friday as fears of a global recession eased, despite strong US employment data. The US economy added 528,000 jobs in the month of July, more than double the 250,000 economists had expected, while US unemployment dropped from 3.6 percent to 3.5 percent. Meanwhile, investors are focused on low inventories and threats to supply. Copper prices also lifted by signs of more government support for China’s struggling economy.
Copper futures for September delivery gained $0.0705 to settle at $3.5520 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.85 percent at $7,870.50 a ton.