Copper futures settle higher on Monday
Copper futures settled higher on Monday, despite strong dollar and fears of stagflation stemming from Middle East tensions. Ongoing hostilities between Iran and joint US-Israeli forces showed little sign of easing, with the United States deploying additional troops and Tehran warning it was prepared for a potential ground invasion. Meanwhile, tight global mine supplies and opportunistic dip-buying from Chinese investors have stabilized markets.
Copper futures for May delivery rose $0.0075 to settle at $5.5020 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.23% at $12,223.50 a ton.
