Magnifying their previous session’s gains, Copper futures ended sharply higher on Wednesday on hopes that Chinese demand will rebound after the country removed its COVID-19 restrictions. Also, a shaky U.S. dollar lent some support to copper prices. Meanwhile, traders were looking ahead to the crucial U.S. inflation data, due on Thursday.
Copper futures for March delivery gained $0.0885 or 2.17 percent to settle at $4.0775 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 2.4 percent at $9,129 a ton.