Copper futures trade higher on Monday
Copper futures were trading higher on Monday due to a short-term boost in demand from top consumer China, where restocking activity has increased ahead of the Labor Day holidays. Moreover, a weaker American currency following reports that Iran submitted a new proposal to the United States to reopen the Strait of Hormuz and ease tensions, also supported copper prices’ up-move.
Copper futures for May delivery rose $0.0370 or 0.61% at $6.0640 a pound on the Comex metals division of New York Mercantile Exchange.
