Copper futures settled higher on Monday as the US dollar weakened against most major rivals and growing hopes for Fed rate cuts this year. Meanwhile, investors are awaiting upcoming US inflation data for more cues on interest rates. Moreover, rising demand in the world’s top metal consumer China and supply disruptions have also lent support. However, some gains were capped by ongoing geopolitical tensions in the Middle East.
Copper futures for July delivery gained $0.1035 to settle at $4.7660 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.81 percent at $10,185.50 a ton.