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Copper futures settle higher on Monday

03 Dec 2024 Evaluate
Copper futures settled higher on Monday amid firm industrial demand with signs of recovering growth in China's manufacturing sector. However, some gains were limited by stronger American currency and concerns about potential global economic harm due to US President-elect Donald Trump's proposed import tariffs. Meanwhile investors are awaiting upcoming US economic data due this week, including private and non-farm payroll reports, JOLTs, and readings on manufacturing activity.

Copper futures for March delivery gained 0.53% to settle at $4.1495 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.2 percent at $8,992.50 a ton.