Copper futures settled up on Monday with the hopes that US Federal Reserve would cut interest rates in June. Moreover, stronger-than-expected economic data from the world’s top consumer China also raised the demand outlook of the metal. Both the official and Caixin Purchasing Managers' Index (PMI) in China reported an expansion in factory activity for March. The London Metal Exchange was closed on Monday for the Easter holiday.
Copper futures for May delivery gained $0.0415 to settle at $4.0485 a pound on the Comex metals division of New York Mercantile Exchange.