Copper futures settled higher on Monday on increasing demand after the Chinese central bank (PBoC) lowered a short term policy rate and injected more liquidity into the financial system as it continues efforts to help boost the economy. Copper prices improved further by the US Fed’s recent big interest rate cut and a signal of more cuts to come.
Copper futures for December delivery gained $0.0045 to settle at $4.3475 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.76 percent at $9,548.50 a ton.