Copper futures settled higher on Wednesday even as the US dollar strengthened against its major peers after the Federal Reserve holding interest rates steady as expected. Although, some gains were limited by global demand concerns and the absence of China, the world’s top metal consumer, where markets are closed for the Lunar New Year holiday until February 5.
Copper futures for March delivery gained $0.0365 to settle at $4.2830 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.90 percent at $9,068 a ton.