Copper futures ended higher on Wednesday after testimony from the US Federal Reserve’s chair Jerome Powell reassured investors that the Federal Reserve has an eye on inflation but is not rushing to hike rates. Further, US June Markit PMI for manufacturing industry registered 62.6 last night also boosted up copper sentiment.
Copper futures for July delivery gained $0.1005 to settle at $4.3305 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.95 percent at $9,482.50 a ton.