Copper futures settled higher on Monday tracking weak US dollar with expectations that the US Federal Reserve would be less aggressive on interest rate hikes after the fallout from Silicon Valley Bank's collapse. Moreover, improved demand from the world’s top metal consumer China supported copper prices’ uptrend.
Copper futures for May delivery gained $0.0230 to settle at $4.0535 a pound on the comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.72 percent at $8,931 a ton.