Copper futures settled higher on Monday ahead of US inflation data and the Fed minutes for clues about the Fed’s rate cut plans in the year ahead. Moreover, tight supply outlook as well as better-than-expected manufacturing data in major economies including the world’s top metal consumer China supported copper prices’ uptrend.
Copper futures for May delivery gained $0.04 to settle at $4.2760 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.88 percent at $9,411.50 a ton.