Copper futures ended higher on Tuesday on account of speculators enlarged positions, even as Covid-19 restrictions in the world’s top consumer China and the prospect of aggressive US interest rate hikes fuelled concerns that demand for copper will weaken. Although, a stronger dollar makes dollar-denominated metals more expensive for buyers using other currencies.
Copper futures for July delivery gained $0.0150 to settle at $4.2830 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 3.68 percent at $9,410 a ton.