Copper futures settled higher on Thursday after better-than-expected import and export data in the world’s top metals consumer China. Moreover, weak US dollar and US Federal Reserve Chair Jerome Powell’s dovish stance on US monetary policy in his recent speech to the US House of Representatives committee have also supported copper prices’ uptrend.
Copper futures for May delivery rose $0.0510 to settle at $3.9260 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.74 percent at $8,640.50 a ton.