Copper futures ended higher on Tuesday as Federal Reserve Chair Jerome Powell reiterated his view that higher inflation will be temporary as the economy slowly works its way out of the pandemic this year. Copper prices improved further as the US dollar retreated overnight, which makes dollar-denominated assets less expensive to buyers in other currencies.
Copper futures for July delivery gained $0.0460 to settle at $4.23 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.32 percent at $9,301 a ton.