Copper Futures End Higher On Signs Of Stronger Chinese Demand

Copper futures ended higher on Wednesday, buoyed by signs of stronger Chinese demand and lingering supply-side concerns. Besides, news out of China showing that the government is looking to ban scrap imports for copper extraction, a process that raises pollution levels, head of commodity strategy at Bank of China International. Copper prices improved further after the International Monetary Fund raised forecasts for Chinese economic growth.

Copper futures for September delivery rose 0.9 percent to settle at $2.872 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange closed up 1.7 percent at $6,330 a metric ton.

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