Copper futures settled higher on Tuesday as a muted American currency and expectations of better demand from the world’s top metal consumer China boosted demand for red metal prices. China’s recent measures to shore up the property market, including Shanghai has lowered the minimum down payment ratios for home buyers and relaxed some restrictions, boosted copper demand prospects. Meanwhile, investors are awaiting crucial inflation readings this week.
Copper futures for July delivery gained $0.1015 to settle at $4.8550 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.72 percent at $10,501.50 a ton.