Copper futures settled higher on Tuesday as falling oil prices eased concerns about economic growth and metal demand. Furthermore, Fed’s pause on monetary tightening and ongoing supply constraints after severe winter storms in Chile that disrupted operations at key mines also supported copper prices.
Copper futures for September delivery gained $0.1030 to settle at $ 6.6435 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.42% at $14,066.50 a ton.