Copper futures settled higher on Thursday on account of inventors enlarged positions globally, even as dollar strengthened after stronger-than-expected US inflation data that fuelled worries about a more aggressive policy tightening by the US Federal Reserve. Thursday data showed that US consumer prices rose to 7.5% year-on-year in January against the forecasts for a rise of 7.3%.
Copper futures for March delivery gained $0.0570 to settle at $4.6595 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.94 percent at $10,254 a ton.