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22-Jan2019

Copper futures end higher on Monday

Copper futures ended higher on Monday. Though, worries about demand in world's top consumer China after data showed weaker economic growth and expectations of slowing activity ahead of the Lunar New Year holiday, capped some gains. Reports showed China's economy cooled in the fourth quarter under pressure from faltering domestic demand and bruising US tariffs, dragging 2018 growth to 6.6 percent, the lowest in nearly three decades. Meanwhile, investors hoped that China will come out with more stimulus measures to revive its economy.

Copper futures for March delivery added $0.0390 to settle at 2.7190 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange ended down 1.2 percent at $5,981 a tonne.


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