Copper futures settled higher on Tuesday due to easing worries over turmoil in the global banking sector after reports that First Citizens Bank & Trust will acquire the assets of Silicon Valley Bank, which collapsed earlier this month. Meanwhile, a weak US dollar makes copper cheaper for buyers with other currencies.
Copper futures for May delivery gained $0.0070 to settle at $4.0855 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.16 percent at $8,978 a ton.