Skip to main content

MoneyWorks4Me

Copper futures end higher on Monday

01 Jun 2021 Evaluate

Copper futures ended higher on Monday as the world’s top metal consumer China’s manufacturing activity grew in May. Moreover, the United States proposed a 6 trillion-dollar budget plan to ramp up spending on several sectors including infrastructure that raised worries of shortage in global metals and thereby fuel copper demand. Copper prices improved further as a strike by a union of remote operations workers at BHP's Escondida and Spence copper mines in Chile disrupted supply.

Copper futures for July delivery gained $0.0145 to settle at $4.6775 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.36 percent at $10,258 a ton.