Copper futures ended higher on Thursday as the US dollar weakened overseas following the report of weak Initial Jobless Claims figures, that renewed expectations of interest rate cuts in the United States. Meanwhile, investors were eyeing on next week’s US CPI data. Moreover, China’s policy measures to bolster the world’s top metal consumer has also supported copper prices’ uptrend.
Copper futures for July delivery gained $0.0425 to settle at $4.5850 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.01 percent at $9,904.50 a ton.