Copper futures settled higher on Wednesday, helped by a weaker dollar which made dollar-denominated metals cheaper and more attractive to holders of other currencies. Further, easing concerns about the Omicron variant of corona-virus and tightening supplies also supporting copper prices’ uptrend. Moreover, expectations of higher demand from the world’s top metal consumer China with easy monetary policy also boosted up red metal prices.
Copper futures for March delivery gained $0.0455 to settle at $4.3915 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.77 percent at $9,607 a ton.