Copper futures settled higher on Tuesday as the US dollar weakened against its major peers, makes copper cheaper for buyers using other currencies. Improved demand and hopes of less aggressive tightening by the US Federal Reserve also supported copper prices’ uptrend globally.
Copper futures for May delivery lost $0.0745 to settle at $3.9710 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.86 percent at $8,751 a ton.