Copper futures traded higher on Monday as the US Federal Reserve is expected to leave the benchmark rates unchanged at the end of its two-day meeting on Wednesday. Moreover, some positive signs of recovery in the world’s top metals consumer China also supported copper prices’ uptrend. However, firm American currency and geopolitical tensions in Middle East limited further gains in copper prices.
Copper futures for December delivery gained 0.16% or $0.0060 at $3.6520 a pound on the Comex metals division of New York Mercantile Exchange.