Copper futures settled higher on Tuesday on hopes that the world’s top metals consumer China would unleash more stimulus measures to boost its economy, that could keep copper demand in the country strong in the coming months. Reports showed that China was considering mobilizing about 2 trillion yuan ($278 billion) to stabilize China’s stock markets. However, firm US dollar index limited copper gains.
Copper futures for March delivery gained $0.03 to settle at $3.7935 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.71 percent at $8,405 a ton.