Copper futures settled higher on Monday as the US dollar weakened against most major rivals. Moreover, lowered global supplies also supported copper prices’ uptrend. However, ongoing worries about turmoil in the banking sector and the possibility of a recession, limited further gains in copper prices.
Copper futures for May delivery gained $0.0035 to settle at $4.0785 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.48 percent at $8,964 a ton.