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Copper futures settle higher on demand hopes

07 Oct 2023 Evaluate
Copper futures settled higher on Friday on demand hopes ahead of the reopening of China's markets next week after the Golden Week holiday. However, concerns over potential interest rate hikes by the US Federal Reserve after a blockbuster US jobs report and high inventories have limited further gains in copper prices.

Copper futures for December delivery gained $0.0755 to settle at $3.6275 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.86 percent at $8,046 a ton.