Copper futures settled higher on Monday as Brent oil prices fell after the United States and Iran paused their attacks, fuelling hopes for a resolution to the conflict and easing concerns over inflation and tighter monetary policy. Meanwhile, investors big focus will be on the Federal Reserve, which will give an update Wednesday on its interest rate policy.
Copper futures for September delivery rose $0.0215 to settle at $6.3790 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.64% at $13,732.50 a ton.