Copper futures settled higher on Monday as a weak US dollar makes copper cheaper for buyers using other currencies. China’s latest stimulus measures also supported base metal prices' uptrend. However, worries over elevated inventories and conflict in the Middle East have limited further gains in copper prices. Meanwhile, investors are keenly awaiting US Federal Reserve Chair Jerome Powell's speech this week for more clues on the central bank's interest rate path.
Copper futures for December delivery gained $0.0110 to settle at $3.5820 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.35 percent at $7,976.50 a ton.