Copper futures ended higher on Monday as tight inventories in exchange warehouses supported base metal prices. Copper prices improved further as US dollar weakened against its major rivals, but bullish potential in US dollar remains intact. Meanwhile, investors are awaiting Fed’s monetary policy meeting for further clarity on stimulus tapering and interest rate hikes.
Copper futures for December delivery gained $0.0255 to settle at $4.3935 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 0.62 percent at $9,555 a ton.