Copper futures traded higher on Monday as strong recovery signs of the US economy supported red metal prices. Data showed US housing starts rebounded sharply in March to the highest since 2006, which exceeded the expectations. Meanwhile, investors are increasingly agreeing that the US Federal Reserve would maintain its easing policy stance for a longer period of time.
Copper futures for May delivery gained $0.0290 at $4.1970 a pound on the Comex metals division of New York Mercantile Exchange.