Copper futures ended higher on Wednesday on better demand expectations in line with growing optimism over an economic recovery in the world’s top metal consumer China, while the US Fed is widely expected to slow its pace of interest rate hikes in 2023 also supporting red metal prices. But, looming recession fears limited gains.
Copper futures for March delivery gained $0.0115 to settle at $4.2345 a pound on the comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.39 percent at $9,323.50 a ton.