Copper futures ended higher on Wednesday as weak dollar against its major peers makes dollar denominated commodities cheaper for holders of other currencies. Further, rollouts of Covid-19 vaccines in some major economies and optimism around strong demand from China too added support to copper prices’ uptrend.
Copper futures for March delivery gained $0.0145 to settle at $3.5590 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.69% at $7,836 a ton.