Copper futures settled higher on Thursday, supported by expectations for solid demand from the world’s top metal consumer China. However, some gains were capped after US and European central bank officials said inflationary pressures were not easing, suggesting interest rates would continue to rise.
Copper futures for September delivery gained $0.0480 to settle at $3.6315 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.35 percent at $8,031.50 a ton.