Copper futures traded higher in early deals on Monday, buoyed by the weakness in dollar and bond yield notes. As per reports from a private survey Chinese manufacturing activity expanded at the fastest pace in nearly two years in May, contradicting official data released last week pointing to a surprise contraction, also kindled red metal rates. Meanwhile, copper for most active contract registered the rates 20% higher year-to-date.
Copper futures for July delivery up by $.0055 or 0.12% to at $ 4.6075 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 95.00 or 0.94% at $ 10,040.00 a ton.