Copper futures ended sharply higher on Wednesday as improving risk appetite eased concerns over significant supply disruptions. Copper found support following the announcement of a two-week ceasefire between the U.S. and Iran, which helped calm market uncertainty. Meanwhile, the Strait of Hormuz is expected to reopen, further boosting sentiment.
Copper futures for May delivery rose $0.214 or 3.85% to settle at $5.5630 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 3.22% at $12,709.00 a ton.
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