Copper futures ended higher on Wednesday as dollar weakened against it major peers after the US Fed held interest rates unchanged and kept the level of its monthly bond-buying program intact as expected. Copper prices improved further after the Goldman Sachs and others are predicting a copper rally to record levels, while global supply concerns including a strike by a group of port workers in Chile also kept sentiment positive.
Copper futures for July delivery gained $0.0120 to settle at $4.4975 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.21% at $9,876 a ton.