Copper futures settled higher on Friday following the world’s top metal consumer China's supportive measures for its economy and the metals-intensive property sector. Copper prices improved further as the US dollar weakened with prospect that the US central bank will raise interest rates at a slower pace in December. However, China’s worst Covid-19 outbreak and expanding lockdowns capped further gains in red metal prices.
Copper futures for December delivery gained $0.0095 to settle at $3.6275 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.41 percent at $8,008 a ton.