Copper futures settled higher on Tuesday supported by the world’s top metal consumer China's move to reopen its borders and abandon quarantine measures, which imposed to prevent the spread of coronavirus infections. A weaker US dollar also supported copper prices as it makes the commodity cheaper for buyers holding other currencies. The London Metal Exchange was closed for Christmas holidays.
Copper futures for March delivery gained $0.0315 to settle at $3.8405 a pound on the Comex metals division of New York Mercantile Exchange.