Copper settles at $13,097 per metric ton after intraday $13,183
Copper prices made a comeback on Thursday after dropping to their lowest point in seven weeks earlier this week.
The price rose by as much as 0.7% to $13,183 before settling at $13,097 per metric ton, supported by a weaker US dollar and renewed enthusiasm around AI-linked equities.
Metals mixed amid Fed rate concerns
Earlier copper dips were tied to worries about rising interest rates, as US Federal Reserve officials pushed for tougher borrowing costs that could slow down industrial demand.
Aluminum nudged up by 0.1% after hitting its lowest since February, having previously fallen on hopes of more supply as U.S.-Iran peace talks progress.
Nickel climbed 0.2%, with Indonesia planning to ramp up production.
Meanwhile, iron ore futures dropped 0.8% in Singapore, showing how global metal markets are still pretty unpredictable with all the economic and political shifts happening right now.