Copper futures traded higher on Monday amid strong demand from the world’s top metal consumer China. Red metal prices improved further as spreading Covid-19 pandemic loosened the market worries of money policies. Moreover, dollar down but remained near its strongest level against major rivals. Meanwhile, investors await the US Federal Reserve’s latest policy decision on Wednesday.
Copper futures for September delivery gained $0.0545 or 1.24% to $4.4545 a pound on the Comex metals division of New York Mercantile Exchange.