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Copper futures settle higher on Tuesday

30 Nov 2022 Evaluate
Copper futures settled higher on Tuesday with growing hopes that China will loosen its strict Covid-19 restrictions. Further, Chinese regulator's decision to lift a multi-year ban on property developers' refinancing, also supported red metal prices. Meanwhile, investors were awaiting US Federal Reserve Chair Jerome Powell's speech for insights into the Fed’s monetary policy path.

Copper futures for December delivery gained $0.0185 to settle at $3.63 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.99 percent at $8,037.50 a ton.