Copper futures gained on Wednesday after the China's Vice Premier said it would roll out more policy measures to boost the economy and for capital markets. Meanwhile, outcome of Federal Reserve meeting signalled interest rate hikes for the first time since 2018 to subdued the elevated inflation rate. The Federal Open Market Committee (FOMC) increased the target range for the federal funds rate by 25 basis points and expects to begin reducing its balance sheet at a future meeting.
Copper futures for May delivery rose $0.0875 to settle at $4.6005 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.51 percent at $ 10,054.00 a ton.