Copper futures ended higher on Tuesday on supply concerns as Russian President Putin vowed to continue the war in Ukraine. Meanwhile, the U.S. Labor Department said the annual U.S. inflation was 8.5 percent in March, following a 7.9-percent annual gain in February, driven by rising energy and food costs. The data for March showed the biggest monthly rise in consumer prices in 40 years, reinforcing expectations that the U.S. Federal Reserve will stay the course on aggressive monetary tightening.
Copper futures for May delivery gained $0.0755 to settle at $4.7095 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.39 percent at $10,342.50 a ton.