Copper futures settled higher on Tuesday due to falling inventories and severe physical tightness inside top consumer China. However, gains were limited by a stronger American currency overseas after US Federal Reserve officials signalled that interest rates may need to rise further to combat sticky inflation.
Copper futures for December delivery rose $0.0735 to settle at $6.8360 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.60% at $14,748.50 a ton.
