Copper futures settled higher on Friday due to expectations for higher demand from the world’s top metal consumer after an unexpected boost in Chinese factory activity. Copper prices improved further on Senate’s passage of debt ceiling bill, and with expectations that the US Fed will not raise interest rates at its next meeting.
Copper futures for July delivery gained $0.0165 to settle at $3.7275 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was down by 0.08 percent at $8,237 a ton.