Copper futures end sharply higher amid ease in concerns over supply interruptions
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.
