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22-Nov2016

Copper futures end higher on Monday

Copper futures ended higher on Monday, supported by stronger oil prices and on expectations of improving appetite from world's top industrial metal consumer China. Besides, dollar's weakness against a basket of major currencies after hitting its highest levels in almost 14 years on Friday, too supported copper prices' uptrend. However, expectations that the Federal Reserve will raise interest rates in December, capped some gains.

Copper futures for December delivery closed up 1.9 percent at $2.5190 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended up 2.5 percent at $5,559 a metric ton.


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