Copper futures settled higher on Thursday as a weak dollar makes dollar-priced metals cheaper for holders of other currencies, while investors squared positions ahead of a long public holiday in the world’s top metal consumer China. Although, surging inventories in exchange warehouses limited further gains in copper prices.
Copper futures for December delivery rose $0.0715 to settle at $3.7080 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.28 percent at $8,217.50 a ton.