Copper futures finished higher on Monday buoyed by expectations of a recovery in the global economy. A private survey showed Chinese manufacturing activity expanding in December, with the Caixin/ Markit manufacturing Purchasing Managers’ Index (PMI) for the month coming in at 53.0. Further, a weaker US dollar also boosted the dollar-denominated commodities appeal.
Copper futures for March delivery gained $0.0355 to settle at $3.5545 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.22% at $7,860.50 a ton.