Copper futures traded higher on Tuesday amid surging optimism over a Chinese economic recovery after PBoC held its benchmark mortgage rates at historical lows. However, a firmer dollar makes copper more expensive to holders of other currencies. US markets were closed Monday due to the Presidents Day holiday.
Copper futures for March delivery gained 1.36% or $0.0560 at $4.1645 a pound on the Comex metals division of New York Mercantile Exchange.