Copper futures were trading higher in early deals on Thursday after top consumer China left benchmark lending rates unchanged at a monthly fixing, in line with market expectations. However, rising inventories and uncertainty over the timing of interest rate cuts in the United States limited further gains in copper prices. The US market was closed yesterday for Juneteenth holiday.
Copper futures for July delivery gained by $0.02 or 0.45% at $4.5105 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was settled up by 1.18 percent at $9,786 a ton.