Copper futures settled higher on Thursday due to expectations of firmer demand followed by the latest fiscal stimulus measures by the Chinese government coupled with news that China’s Politburo will push for the real estate market to stop declining and called for forceful rate cuts. Meanwhile, investors are closely watching the upcoming release of the August PCE data from the United States for further cues.
Copper futures for December delivery gained $0.1495 to settle at $4.6390 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 2.73 percent at $10,080.50 a ton.