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Copper futures settle higher on Monday

10 Dec 2024 Evaluate

Copper futures settled higher on Monday after the world’s top metals consumer China said it would take more action to boost its economy. Meanwhile, traders are awaiting the outcomes from the China Central Economic Work Conference, where policymakers are expected to chart the course for the country's economy in 2025. Moreover, supply concerns also supported prices. However, some gains were limited by firm dollar and ahead of US inflation data due this week that is likely to give clues on the Federal Reserve’s next monetary policy moves. 

Copper futures for March delivery gained $0.079 to settle at $4.2755 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.2 percent at $9,232 a ton.


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