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Copper futures end higher on US House passage of stimulus package

02 Mar 2021 Evaluate

Copper futures ended higher on Monday after the US House of Representatives passed President Joe Biden’s $1.9 trillion stimulus package, which includes $1,400 stimulus checks, increased jobless benefits payments, and corona virus vaccine funding. However, top metal consumer China’s weaker than expected February activity growth in the manufacturing sector capped further gains on copper prices.

Copper futures for May delivery gained $0.0205 to settle at $4.1130 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.36% at $9,044.00 a ton.