Copper futures settled higher on Monday after Chinese authorities unveiled a special action plan over the weekend aimed at boosting spending by increasing incomes, and the latest data showed Chinese consumption, investment and industrial production exceeded estimates for the first two months of this year. Moreover, a weaker American currency has also supported copper prices’ up-move. But traders are awaiting more clarity on US tariff risks and their effect on global growth.
Copper futures for May delivery rose $0.063 to settle at $4.9590 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.83 percent at $9,861.50 a ton.