Copper futures settled higher on Wednesday as the US dollar weakened against its major peers after the US Federal Reserve delivered an expected small interest rate hike while hinting that it was on the verge of pausing future increases amid recent turmoil in the financial markets. Moreover, dwindling exchange inventories along with improving demand from China also helped copper prices to settle higher.
Copper futures for May delivery gained $0.0505 to settle at $4.0445 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.50 percent at $8,888.50 a ton.