Copper futures settled higher on Tuesday after investors shrugged off a higher-than-expected US inflation report, that could dampen expectations of Fed's interest rate cut until June. Meanwhile, investors are awaiting Chinese loan data this week, a key indicator of future demand for metals. Moreover, lower inventories and tight supplies also helped copper prices to trade higher.
Copper futures for May delivery rose $0.0035 to settle at $3.9320 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.05 percent at $8,657 a ton.