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Copper futures trade higher on Monday

28 Dec 2020 Evaluate

Copper futures traded higher on Monday as US President Donald Trump signed $2.3 trillion spending bill that includes a $900 billion stimulus package boosted sentiment for industrial metals. Copper prices improved further after China’s strong industrial profit data that underscored a continued recovery in Chinese economy. Moreover, weakness in US dollar too supported metal prices.

Copper futures for March delivery gained $0.0515 at $3.6140 a pound on the Comex metals division of New York Mercantile Exchange.