Copper futures settled higher on Thursday as improved market optimism due to more stimulus measures from the world’s top metal consumer China. Moreover, stronger-than-expected US economic data also supported copper prices’ uptrend. However, a strong US dollar and high inventories have limited further gains in copper prices.
Copper futures for December delivery gained $0.0285 to settle at $3.8215 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.01 percent at $8,417.50 a ton.