Copper futures settled higher on Thursday on hopes of more easing measures from China after state media reported that China’s central bank, PBoC may cut banks’ reserve requirement ratio before the Spring Festival at the end of this month. Copper prices gained further on weaker dollar due to bets on potential interest rate cuts by the US Federal Reserve this year following an easing in core US inflation.
Copper futures for March delivery gained $0.052 to settle at $4.4410 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.69 percent at $9,230.50 a ton.