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22-May2018

Copper futures end higher on Monday

Copper futures ended higher on Monday as investors' fears over a US-China trade war eased. Treasury Secretary Steven Mnuchin said Sunday that the Trump administration would 'put the trade war on hold,' and delay tariffs on Chinese imports to the US, while the two countries hammer out details of a deal to reduce the trade deficit with China. However, upside in metals remained capped as dollar hit a five-month high versus a currency basket, making dollar-priced metals costlier for non-US investors.

Copper futures for July delivery rose 1.1 percent to settle at $3.099 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange closed up 0.4 percent at $6,879 a metric ton.



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