Copper futures ended higher on Monday as weaker dollar makes dollar denominated commodities cheaper for holders of other currencies and boosted copper demand. Further, hopes of strong demand from world’s top metal consumer China, and China’s encouraging data too supported investors' sentiment. Data showed profits at China's industrial firms grew 19.1 percent year-on-year in August to 612.81 billion yuan as the vast manufacturing sector extended its recovery from heavy corona virus shutdowns earlier this year.
Copper futures for December delivery gained $0.0190 to settle at $2.99 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.41% at $6,572.00 a ton.