Copper futures traded higher on Monday on signs of improving demand from China, despite worries over the global banking system. Further, dwindling exchange inventories also supported red metal prices’ uptrend. Moreover, weakness in US dollar makes copper cheaper for holders of other currencies.
Copper futures for May delivery gained 0.2% or $0.0080 at $4.0830 a pound on the comex metals division of New York Mercantile Exchange.