Copper futures settled higher on Thursday on account of lingering worries of supply constraints from top producer Russia amid Ukraine-Russia war. Further, lower inventories of metal also provided upward momentum to its prices. However, upside remained capped as stronger-than-expected US inflation data that fuelled worries about a more aggressive policy tightening by the US Federal Reserve. Data showed that US consumer prices rose to 7.9% year-on-year in February.
Copper futures for May delivery gained $ 0.0800 to settle at $4.6525 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.15 percent at $10,117 a ton.