Copper futures ended higher on Tuesday on expectations of higher demand outlook from renewable energy and electric vehicles sectors, which requires more copper metal that is a strong conductor of electricity. Copper prices improved further as the global economy recovers from corona-virus slumps, while tight supplies also helped copper to boost further. Moreover, softer US dollar also making dollar denominated commodities cheaper for buyers using other currencies.
Copper futures for July delivery gained $0.0460 to settle at $4.7620 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.75% at $10,460 a ton.