Copper futures settle higher on Wednesday
Copper futures settled higher on Wednesday supported by a ceasefire between Israel and Iran that appeared to be holding, while weakness in the American currency also provided some support to the metal. Copper prices improved further after data by the International Copper Study Group showed that the global refined copper market was in a 50,000 tons deficit in April, compared with a 12,000 metric tons surplus in March.
Copper futures for July delivery gained $0.099 to settle at $4.9715 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.45 percent at $9,712.50 a ton.
