Copper futures settled higher on Wednesday after Chinese copper smelters agreed to curb production to cope with lower supply of raw material. Weak US dollar also supported sentiments. Investors are awaiting Chinese loan data this week, a key indicator of future demand for metals. Meanwhile, markets sought more clues on US interest rates from producer inflation and retail sales data due later in the day.
Copper futures for May delivery rose $0.1280 to settle at $4.06 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.