Copper futures settled higher on Wednesday on hopes that China will unleash a wave of metal-intensive infrastructure spending, the latest step to bolster an economy that’s been battered by Covid-related lockdowns. However, strong US dollar makes metals priced in the US currency more expensive to buyers using other currencies.
Copper futures for May delivery gained $0.0155 to settle at $4.4565 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.04 percent at $9,856 a ton.