Copper rises mildly despite pressure from dollar

Copper prices rose on Thursday even as dollar rises and pressures commodities, but copper prices received support from the deteriorating Ukrainian crisis.

Russia is one of the major producers and exporters of industrial metals such as nickel, palladium, copper, and aluminum.

Russian economy was hit pretty badly by the unprecedented sanctions imposed by the US and Europe against the Moscow regime. 

Analysts are concerns about a prolonged fight between Russia and Ukraine, which would impede exports of copper and major commodities through the black sea.

The dollar index rose 0.3% as of 13:57 GMT to 98.8, with an intraday high at 98.9, and a low at 98.6.

Dollar received support from expectations the Fed might increase the rate of interest rates hikes to control inflation.

Copper futures due in May rose 0.4% as of 13:53 GMT to $4.79 a pound.