Copper futures settled higher on Thursday on improved demand following the US Federal Reserve's hints at potential interest rate cuts this year. Copper prices improved further on encouraging US economic data including a decrease in jobless claims and a notable increase in existing home sales, that have signalling robust economic health in United States. Although, strong American currency limited copper gains.
Copper futures for May delivery gained $0.0070 to settle at $4.0585 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.25 percent at $8,950.50 a ton.