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.