Copper futures settle higher on easing geopolitical tensions
Copper futures settled higher on Monday due to easing geopolitical tensions in the Middle East after the US President Donald Trump said the US will postpone planned strikes on Iranian energy infrastructure for five days following the start of talks with Tehran about ending hostilities. Copper prices were also lifted by the pullback for the American currency as the development strengthens the case for a rate cut by the Federal Reserve this year. However, ample global inventories kept traders cautious.
Copper futures for May delivery rose $0.098 to settle at $5.4725 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.99% at $12,167 a ton.
