Copper futures trade higher on softer US dollar
Copper futures were trading higher on Monday, supported by a softer US dollar as traders cautiously awaited key economic data including the January jobs report and December retail sales which have been delayed by a partial government shutdown. However, persistent supply tightness against weakening demand in the world’s top metal consumer China ahead of the Lunar New Year holidays, have limited further gains in copper prices.
Copper futures for March delivery rose $0.0115 or 0.2% at $5.8935 a pound on the Comex metals division of New York Mercantile Exchange.
