Copper futures settled higher on Tuesday, tracking weakness in the US dollar at overseas markets, and as the US Federal Reserve (Fed) kicked off its March policy meeting that could offer cues to the path of US interest rates. Meanwhile, top consumer China’s latest stimulus measures and expectation of 25% tariffs on US copper imports along with tight supplies, have also supported copper prices’ up-move.
Copper futures for May delivery rose $0.0575 to settle at $5.0165 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.44 percent at $9,904.50 a ton.