Copper futures traded higher on Monday after data showed third-quarter economic growth data from top metals consumer China grew 4.9% as compared to a year ago, while retail sales in China rose 3.3% in September from a year earlier. Further, expectations of a US fiscal package before the US presidential elections too supported copper prices’ uptrend. However, stronger US dollar capped some gains on copper prices.
Copper futures for December delivery gained $0.0045 at $3.0720 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.4% at $6,768.50 a ton.