Copper futures settled higher on Thursday, buoyed by increasing expectations of a pause in the US Federal Reserve’s interest rate hike cycle next week. Meanwhile, dovish signals from the European Central Bank and the Bank of England also boosted the sentiments. Moreover, hopes of more stimulus measures to support Chinese economic growth also supported copper prices’ uptrend.
Copper futures for September delivery gained $0.0205 to settle at $3.8345 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.67 percent at $8,485.50 a ton.