Copper futures settled higher on tightening supplies
Copper futures settled higher on Monday due to concerns over tightening supplies from South American producers. Copper prices improved further by the impact of potential US tariffs on refined metals, while Fed independence worries also weighed on the American currency and boosted copper prices. Meanwhile investors awaited the US inflation data due Tuesday, which could provide clearer signals on the Fed’s policy direction.
Copper futures for March delivery gained $0.129 to settle at $6.0315 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.63% at $13,209.50 a ton.
