US copper futures climbed more than 10 percent early Monday on the back of a weaker dollar and a multibillion dollar economic stimulus package in China, the world's leading metals consumer. Copper for December delivery surged 14.50 cents, or 8.5 percent, to $1.8420 a lb by 10:34 am EST (1534 GMT) on the New York Mercantile Exchange's COMEX division.
The morning range from $1.7280 to $1.89. COMEX estimated futures volume at 9,797 lots by 10 am. Copper up in response to China's near-$600-billion economic stimulus plan to shore up the world's fourth-largest economy.
Comments
Comments are closed.