Copper futures ended higher on Tuesday as global investors enlarged positions, despite a strengthening US dollar against its peers after US Federal Reserve Chair Jerome Powell was reappointed for a second term that reinforcing market expectations for higher interest rates in 2022. Further, Chinese central bank PBoC has signalled possible easing measures to aid the second largest economy's recovery and in its latest quarterly monetary policy report PBoC removed from its policy outlook a few key phrases cited in previous reports that implying a softer tone to policy ahead, too supported copper prices’ uptrend.
Copper futures for December delivery gained $0.0270 to settle at $4.4235 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.16 percent at $9,710.50 a ton.
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