Copper futures settled higher on Wednesday on improved demand prospects from the world’s top metals consumer China. Copper prices rose further after the US Federal Reserve left the interest rate unchanged, but signalled one more interest rate hike by the end of the year. However, concerns over surging exchange inventories limited further gains in copper prices.
Copper futures for December delivery gained $0.0290 to settle at $3.7760 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.64 percent at $8,345.50 a ton.