Copper futures settled higher on Wednesday as the US dollar weakened with expectations that the Federal Reserve will raise interest rates at a slower pace in December. However, worries over a potential global recession and China’s worst Covid-19 outbreak capped further gains in red metal prices.
Copper futures for December delivery gained $0.0035 to settle at $3.6180 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.1 percent at $8,005 a ton.