Copper futures settled higher on Wednesday as the US dollar weakened against its rivals, despite the US Federal Reserve projected higher interest rates for a longer period. Concerns over surging covid-19 cases in the world’s top metal consumer China capped further gains in copper prices.
Copper futures for March delivery gained $0.0360 to settle at $3.8780 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.23 percent at $8,516.50 a ton.