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Copper futures settle higher on Wednesday

06 Feb 2025 Evaluate
Copper futures settled higher on Wednesday as the US dollar weakened against its major peers overseas, despite US-China trade war concerns. On Tuesday, China had imposed retaliatory tariffs on a range of US products and announced an investigation into Google, moments after US President Donald Trump imposed a 10% levy on Chinese imports. Trump said Tuesday he is in no hurry to speak to Chinese President Xi Jinping to try to defuse a new trade war between the world's two largest economies.

Copper futures for March delivery gained $0.0905 to settle at $ 4.4440 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.98 percent at $9,240 a ton.