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Copper futures settle higher on better demand hopes

09 Dec 2022 Evaluate
Copper futures settled higher on Thursday as a relaxation in covid curbs in the world’s top metal consumer China raised expectations of better demand for the red metal. Moreover, a weaker US dollar also supported copper prices’ uptrend. However, uncertainty about the US Federal Reserve's path of rate hikes capped further gains in copper prices.

Copper futures for March delivery gained $0.0230 to settle at $3.8835 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.02 percent at $8,543 a ton.