Copper futures end marginally higher on Friday
Copper futures ended marginally higher on Friday as market participants increased their holdings even as the war in the Middle East entered its seventh day with no sign of resolution. Copper sentiments improved further as weaker-than-expected US February payroll report increased pressure on the Federal Reserve to consider resuming rate cuts. Moreover, a weak American currency also made copper more attractive and affordable for international buyers using other currencies, which often drives up demand and lifts prices.
Copper futures for March delivery rose $0.0025 to settle at $5.8070 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was down by 0.31% at $12,862 a ton.
