Copper futures settled higher on Monday as the piling up of stocks in the world’s top metal consumer China slowed and as major Chinese refiners signalled plans to cut production. Although, investors remained cautious ahead of a key inflation report out of the United States later in the week.
Copper futures for May delivery gained $0.0085 to settle at $4.0160 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.07 percent at $8,873 a ton.