Copper futures settled higher on Wednesday as a weaker American currency overseas makes dollar-denominated metals more attractive to buyers using other currencies. Moreover, the green transition and increased use of AI applications also kept copper demand high. Meanwhile, recent Western sanctions on Russian metals injected volatility into commodity markets and supply uncertainty.
Copper futures for May delivery gained $0.0360 to settle at $4.3395 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.21 percent at $9,582.50 a ton.