Copper futures settled higher on Wednesday on improved demand, even after the US dollar strengthened against its major peers overseas amid hawkish comments from Atlanta Fed President Bostic and a steep decline in US January new home sales. Meanwhile investors are awaiting this week’s US Personal Consumption Expenditures (PCE) data, the Fed's preferred inflation gauge.
Copper futures for March delivery rose $0.059 to settle at $4.5865 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.62 percent at $9460 a ton.