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Copper futures settle higher on soft dollar

15 Feb 2023 Evaluate
Copper futures settled higher on Tuesday as soft dollar supported red metal prices. Copper prices improved further after data showed US inflation slowed in January, but US Federal Reserve officials warned that interest rates would have to remain firm for longer until the central bank achieves its 2% inflation goal.

Copper futures for March delivery gained $0.0175 to settle at $4.0750 a pound on the comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.1 percent at $8,946.50 a ton.