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07-Sep2016

Copper futures end higher on Tuesday

Copper futures ended higher on Tuesday on signs of a modest pick-up in demand. Further, weaker than expected US ISM non-manufacturing PMI data took the shine out of the US dollar, supporting the prices of dollar-denominated commodities. Though, inventories in London Metal Exchange warehouses jumped 6,450 tonnes to 334,975 tonnes, the highest in almost a year, keeping the market under pressure.

Copper futures for December delivery gained 0.5 percent to settle at $2.089 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended down 0.1 percent to $4,620 a metric ton.


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