Copper futures settled higher on Friday due to strong jobs data from the United States. The US April jobs data showed that the US economy added a greater than expected 253,000 jobs last month, while unemployment rate ticked back down to 3.4%. However, lacklustre demand from the world’s top metal consumer China and rising inventories, limited further gains in copper prices.
Copper futures for July delivery gained $0.02 to settle at $3.8830 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.04 percent at $8,581.50 a ton.