Copper futures traded higher on Monday with expectations of a faster global economic revival following the developments with the US President Joe Biden’s proposed $1.9 trillion corona virus relief package. Moreover, expectation of a pick-up in demand as the World’s top metal consumer China returned from the New Year holiday too supported copper prices’ uptrend.
Copper futures for March delivery gained $0.0980 at $4.1720 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 3.1% at $9,187 a ton.