Copper futures ended higher on Wednesday as the market worries over Omicron Covid-19 variant eased after drug maker Pfizer said a three-shot course of its vaccine could neutralise the new Omicron coronavirus variant, while statistics showing that Omicron is likely to be milder than Delta variant. Copper prices improved further after a cut in bank reserve requirements by China's central bank released 1.2 trillion yuan in long-term liquidity to support the biggest metal consumer's economy.
Copper futures for March delivery gained $0.0540 to settle at $4.3935 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.6 percent at $9,652.50 a ton.