Copper futures settled higher on Thursday on account of improved demand, even as data showed China’s industrial profits shrank more than expected in the first quarter which revived concerns over an uneven economic recovery in the world’s top metal consumer.
Copper futures for July delivery gained $0.0225 to settle at $3.8840 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.4 percent at $8,586.50 a ton.