Copper futures settle higher on weaker dollar overseas
Copper futures settled higher on Monday tracking weakness in the US dollar and expectations of a dovish Fed boosted the red metal, as a lower dollar makes dollar-denominated copper cheaper for foreign buyers. However, rising inventory levels in China (SHFE) and London (LME) have capped further upside. Meanwhile, metal markets are bracing for US President Donald Trump’s deadline for Iran to agree a deal or face sweeping attacks on civilian infrastructure.
Copper futures for May delivery gained marginally $0.0175 to settle at $5.6010 a pound on the Comex metals division of New York Mercantile Exchange.
