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Copper futures end higher amid weak dollar

27 Apr 2021 Evaluate

Copper futures ended higher on Monday amid weak US dollar against major rivals, which makes dollar-denominated copper cheaper to buy for holders of other currencies. Further, improved outlook for the global recovery from the corona-virus pandemic also support rally in copper prices. Moreover, concerns about supplies from the world's largest copper producer, Chile and hopes of strong demand from the world's largest copper consumer, China too supported copper prices’ uptrend. 

Copper futures for May delivery gained $0.1050 to settle at $4.4410 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 2.09% at $9,751 a ton.