Copper futures settle higher on Tuesday
Copper futures settled higher on Tuesday on renewed buying interest as top consumer China reopened after the Lunar New Year break, with optimism over potentially lower US tariffs on its goods. However, some gains were limited as reduced expectations for immediate rate cuts followed by hawkish comments from the US Federal Reserve officials boosted the dollar, that makes copper more expensive for overseas buyers.
Copper futures for March delivery rose $0.15 to settle at $5.9305 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 2.32% at $13,166.50 a ton.
