Copper futures settled higher on Monday as hopes for stimulus measures in the world’s top metal consumer after latest data showed China’s consumer prices index accelerated to the fastest pace in half a year and producer price deflation worsened in August. Meanwhile investors are awaiting US inflation numbers this week and US Federal Reserve meeting next week for further cues on the outlook for interest rates.
Copper futures for December delivery gained $0.0710 to settle at $4.1445 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.12 percent at $9,097 a ton.