Copper futures traded higher on Monday as signs of economic stabilisation in the world’s top metal consumer China lifted demand hopes for the metal. However, a weaker yuan and rising inventories limited further gains in copper prices. Meanwhile, investors are awaiting inflation data in the United States due out later this week for further clarity over interest rate hikes.
Copper futures for December delivery gained 0.85% or $0.0315 at $3.7480 a pound on the Comex metals division of New York Mercantile Exchange.