COMEX copper futures surge 7 cents/lb behind equity indexes

摘要

COMEX copper futures shot more than 7 cents/lb higher Monday on bullish comments from US Federal Reserve Chairman Jerome Powell on Sunday and news of another successful phase 1 clinical trial for a coronavirus treatment. Copper for July delivery, the active month, closed 7.35 cents/lb higher at 240.40 cents/lb after climbing steadily throughout London and New York trading. The May spot contract closed 7.15 cents/ lb higher at 240.50 cents/lb, while the June contract gained 7.25 cents/lb to close at 240.20, thereby maintaining a small May- June backwardation.