Copper futures traded higher on Tuesday followed by strong Chinese exports data. Exports in August rose a solid 9.5% from a year earlier, marking the strongest gain since March 2019. The figure also beat expectations for 7.1% growth and compared with a 7.2% increase in July. While, imports slumped 2.1%, compared with market expectations for a 0.1% increase and extending a 1.4% fall in July. Though, a stronger US currency made dollar-priced metals less attractive to buy for non-US investors.
Copper futures for December delivery gained $0.0020 at $3.0640 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was down 0.1% at $6,785.50 a ton.