Copper futures settled higher on Wednesday after US-based Freeport-McMoRan said force majeure was declared on contracted supplies from the world’s second largest producing mine after a deadly mud rush incident. Meanwhile, investors awaited key US economic data for further insights into the US Federal Reserve policy path.
Copper futures for December delivery gained $0.1695 to settle at $4.8135 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 3.63 percent at $10,336.50 a ton.