Copper futures settled higher on Friday due to tight supplies from the world’s top metal consumer China. However, some gains were capped with concerns over China’s economic outlook and expectations of aggressive interest rate hike by the US Federal Reserve in September.
Copper futures for December delivery gained $0.0265 to settle at $3.5165 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.42 percent at $7,762 a ton.