Copper futures settled higher on Tuesday as the US dollar weakened against its major peers ahead the release of the March US consumer price inflation data that could provide clues on the path of US Federal Reserve interest rate hikes. However, the world’s top metal consumer China’s weak activity capped further gains in copper prices.
Copper futures for May delivery gained $0.0430 to settle at $4.0195 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.62 percent at $8,854.50 a ton.