Copper futures ended higher on Wednesday, supported by a weaker dollar after the US central bank raised interest rates by 75 basis points as was widely anticipated, and comments from US Fed Chairman Jerome Powell spurred expectations for a slower hiking path. Meanwhile, hopes for improved demand from the world’s top consumer China also supported market sentiments.
Copper futures for September delivery gained $0.0455 to settle at $3.43 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.33 percent at $7,637 a ton.