Copper futures traded higher on Monday due to optimism over stimulus-fuelled global economic recovery. However, some gains were capped ahead of seasonally slow consumption during the Chinese Lunar New Year holiday. While, fresh doubts over the ability of Covid-19 vaccine makers to secure agreed supplies has also added downward pressure on copper prices.
Copper futures for March delivery gained $0.0110 at $3.6370 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.2% at $7,985.50 a ton.