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Copper futures settle higher on Friday

28 Oct 2023 Evaluate
Copper futures settled higher on Friday, supported by upbeat signs of Chinese recovery and stimulus measures announced by the world’s top metal consumer China. Data showed that profits at China's industrial firms extended gains for a second month in September. However, concerns over potential for additional US Federal Reserve interest rate hikes limited further gains in copper prices.

Copper futures for December delivery gained $0.0615 to settle at $3.6460 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.42 percent at $8,099 a ton.