Copper futures trade higher on Monday
Copper futures were trading higher on Monday driven by expectations of a Middle East ceasefire as the US, Iran and a group of regional mediators discuss terms for a potential 45-day truce that could lead to a permanent end to the conflict. However, some gains were limited by ample supply and increasing inventories, with London Metal Exchange stockpiles near six-year highs and Shanghai Futures Exchange holdings close to record levels.
Copper futures for May delivery rose $0.0340 or 0.61% at $5.6175 a pound on the Comex metals division of New York Mercantile Exchange.
