Copper futures settled higher on Monday after the world’s top metal consumer China signalled more policy support for its struggling economy. Meanwhile, investors are eagerly waiting for an interest rate decision from the US Federal Reserve due later this week. However, strength in the US dollar makes dollar-priced commodities more expensive for buyers holding other currencies.
Copper futures for September delivery gained $0.0375 to settle at $3.8555 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.77 percent at $8,517 a ton.