Copper futures settled higher on Tuesday, supported by fresh hopes for more stimulus measures in the world’s top metals consumer China. Investors are awaiting China’s fourth-quarter gross domestic product and industrial output data due later in the day for further clues on demand outlook. However, a buoyant dollar makes copper more expensive for buyers using other currencies.
Copper futures for March delivery gained $0.0260 to settle at $3.7665 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.32 percent at $8,354.50 a ton.