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Copper futures trade higher as dollar slips

01 Mar 2021 Evaluate

Copper futures was trading higher on Monday as US dollar slipped from a one-week high against a basket of major currencies, making copper cheaper for holders of other currencies. However, the surge in US bond yields and worry about inflation suppressed copper contracts to a certain extent. Meanwhile, official data released over the weekend showed China’s manufacturing activity growth slowing in February too added some pressure on copper prices and capped its gains.

Copper futures for May delivery gained $0.0415 at $4.1340 a pound on the Comex metals division of New York Mercantile Exchange.