Copper futures exhibit strength on Monday
Copper futures are exhibiting strength on Monday, with prices trading near the $6 per pound mark, underpinned by structural demand and supply constraints, despite lower activity during the Chinese Labor Day 'Golden Week' holiday. Moreover, weakening US dollar has made dollar-denominated copper cheaper for international buyers, thus boosting demand. At the same time, market participants kept a close watch on developments related to the ongoing US-Iran negotiations.
Copper futures for July delivery rose $0.0055 or 0.09% at $5.99 a pound on the Comex metals division of New York Mercantile Exchange.
