Copper futures settled higher on Monday, tracking concerns over supply risks in Chile and hopes of further stimulus measures in the world’s top metal consumer China. Moreover, signs of slowing inflation in the United States and expectations of end of interest rate hike cycle also supported copper prices’ uptrend. However, a stronger US dollar capped further gains in copper.
Copper futures for September delivery gained $0.0815 to settle at $4.0080 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.95 percent at $8,831.50 a ton.