Copper futures settled higher on Monday as demand expectations from the top metal consumer China improved after the Country reopened its borders to foreign visitors for the first time since the start of the covid pandemic. Besides, slower rate hike expectations from the US Federal Reserve and a weaker US dollar also fuelled strong rally in copper prices.
Copper futures for March delivery gained $0.1155 to settle at $4.0265 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 3.14 percent at $8,859.50 a ton.