Copper futures settled higher on Tuesday, buoyed by a weaker US dollar against major rivals, which makes dollar-denominated copper cheaper to buy for holders of other currencies. Further, expectations of higher demand from the world’s top metal consumer China on the back of promised economic stimulus from the government also supported red metal prices to some extent.
Copper futures for March delivery gained $0.0160 to settle at $3.7990 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.41 percent at $8,354.50 a ton.