Copper futures settled higher on Monday after Chile announced the permanent closure of copper mining stopes related to a giant sinkhole in the northern part of the country. But, expectations of further US interest rate hikes and a strong US dollar are continuing to pressure copper prices downward.
Copper futures for December delivery gained $0.0440 to settle at $3.4305 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up 1.62 percent at $7,578.50 a ton.