Copper futures traded higher on Monday on expectations of a strong demand from the world’s top consumer China. Further, US democrats in the House of Representatives are working on a $2.2 trillion corona virus stimulus package, too added support to copper prices’ uptrend. However, some gains were capped ahead of a US Presidential debate and as surging corona virus cases weakened global economic recovery hopes.
Copper futures for December delivery gained $0.0155 at $2.9865 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.3% at $6,565 a ton.