Copper futures settled higher on Thursday as the American currency weakened against its major peers overseas after the Federal Reserve delivered a less hawkish outlook than markets had expected following its 25-basis-point interest-rate cut. Moreover, global supply tightness and policy support from both China and the United States have also supported copper prices.
Copper futures for March delivery rose $0.148 to settle at $5.5015 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 2.73% at $11,872 a ton.