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Copper futures end higher on Wednesday

29 Dec 2022 Evaluate

Copper futures ended higher on Wednesday as the buying of red metal got increased after the top metal consumer China relaxed its Covid-19 restrictions and lockdowns. China decided to reopen its borders and remove quarantine for inbound travellers from January 8, 2023. However, concerns over global recession and demand uncertainty, capped further gains in copper.

Copper futures for March delivery gained $0.0020 to settle at $3.8425 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.12 percent at $8,443.00 a ton.