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Copper futures settle higher as dollar eases

12 Jan 2022 Evaluate

Copper futures settled higher on Tuesday as dollar eased against its rivals and after US Fed Chairman Jerome Powell stated that the Fed may take several months to make a decision on running down the central bank's $9 trillion balance sheet. Meanwhile, the crude oil prices rose sharply, which also benefited copper prices’ uptrend.

Copper futures for March delivery gained $0.0770 to settle at $4.4290 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.63 percent at $9,719.50 a ton.