Copper futures ended higher on Monday after falling stockpiles in exchange warehouses in the world’s top metal consumer China. However, some gains were capped by the rise in US Treasury yields as a slew of US Fed officials are due to speak this week who were expected to reinforce expectations of the start of asset purchase reduction before the end of the year. Meanwhile strong US dollar also makes dollar-denominated metals more expensive to holders of other currencies.
Copper futures for December delivery gained $0.0040 to settle at $4.2895 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.32 percent at $9,362 a ton.