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Copper futures trade higher on Monday

15 Jan 2024 Evaluate
Copper futures traded higher on Monday on account of renewed hopes of an interest rate cut by the US Federal Reserve in March. Copper prices improved further on improved demand expectations and after China's central bank (PBoC) surprised markets by leaving the interest rate unchanged. Although, investors are cautiously awaiting China’s fourth-quarter GDP and December industrial production on Wednesday. 

Copper futures for March delivery gained 0.63% or $0.0235 at $3.7640 a pound on the Comex metals division of New York Mercantile Exchange.