Copper futures traded higher on Monday as dollar weakened against its rivals that makes dollar-denominated copper less expensive outside the US. Meanwhile, the three major US major stock indexes all closed higher last week along with strong economic data too supported copper prices’ uptrend. However, concerns about a global rise in Covid-19 cases capped some gains on copper prices.
Copper futures for May delivery gained $0.0460 at $4.3820 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange rose as much as 0.6 percent at $9,610 a ton.