Copper futures settle higher on weaker US dollar

Copper futures settled higher on Monday, supported by a weaker US dollar and fears of tight global supply. Meanwhile investors awaited Tuesday's US non-farm payrolls report for more clues on the Federal Reserve’s policy outlook. However, a continued sell-off in artificial intelligence shares stoked concern about demand for the metal used in electrical wiring and renewable-energy equipment.

Copper futures for March delivery rose $0.053 to settle at $5.4120 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.22% at $11,655.50 a ton.