Copper futures settled higher on Friday on account of improved demand as the US dollar weakened against its major peers. Meanwhile, optimism over US debt ceiling deal in Washington also supported red metal prices’ uptrend. However, rising inventories in exchange warehouses, limited further gains in copper prices.
Copper futures for July delivery gained $0.0425 to settle at $3.7320 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.97 percent at $8,251.50 a ton.