Copper futures settled higher on Wednesday as a softer dollar ahead of US inflation data made copper cheaper for holders using other currencies. Investors were also awaiting China’s trade data due out on Friday to gauge prospects for demand in the world's top metals consumer. Although, waned hopes of an early interest rate cut in the United States limited further gains in copper prices.
Copper futures for March delivery gained $0.0225 to settle at $3.7810 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.01 percent at $8,370.50 a ton.