Copper futures settled higher on Thursday tracking an unexpected growth in factory activity in the world’s top metal consumer China. Caixin/S&P Global manufacturing purchasing managers' index rose to 50.9 in May from April's 49.5, according to a private survey. Meanwhile, a vote of approval from the US House of Representatives to suspend the debt ceiling also added support to copper prices’ uptrend.
Copper futures for July delivery gained $0.0740 to settle at $3.7110 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.91 percent at $8,243.50 a ton.