Copper futures ended higher on Tuesday due to the prospect of quick global economic recovery fuelled by Covid-19 vaccine developments. Further, expectations of trillions of dollars in new stimulus measures too added support to copper prices’ uptrend. However, the strong dollar as well as new curbs to fight a resurgence of corona virus cases in the world’s top metal consumer has negatively impacted copper demand.
Copper futures for March delivery advanced $0.0410 to settle at $3.6055 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.42% at $7,975.50 a ton.