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Copper futures trade higher on weaker US dollar

13 Mar 2023 Evaluate
Copper futures traded higher on Monday due to weaker US dollar. Meanwhile the collapse of Silicon Valley Bank in the United States -- the biggest US bank failure since the 2008 financial crisis fuelled expectations that the US Federal Reserve would take a less aggressive monetary path. Moreover, signs of improving copper demand from the world’s top metal consumer China also supported copper prices’ uptrend.

Copper futures for May delivery gained 0.72% or $0.0290 at $4.0595 a pound on the comex metals division of New York Mercantile Exchange. 

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