Copper futures ended higher on Tuesday on expectations that the US economy would not be dragged down by the new wave of Covid-19 pandemic. Moreover, rising crude oil prices and positive Chinese manufacturing data also boosted up copper prices to some extent. However, strong dollar and rising US Treasury yields overnight on bets of an early interest rate hike by the US Federal Reserve capped further gains in copper prices.
Copper futures for March delivery gained $0.0535 to settle at $4.4750 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.49 percent at $9,768 a ton.