Copper edges higher on US stimulus package passage fuels recovery hopes

HANOI: Copper prices inched up on Monday, buoyed by expectations of a faster economic recovery and higher capital inflows into markets after the US Senate passed a long-awaited $1.9-trillion coronavirus stimulus bill.

Three-month copper on the London Metal Exchange rose 0.1% to $8,907 a tonne by 0319 GMT, while the most-traded April copper contract on the Shanghai Futures Exchange advanced 1% to 66,130 yuan ($10,161.03) a tonne.

The US Senate passed the relief plan on Saturday, a major milestone for the bill.

House of Representatives will vote on it on Tuesday.

Copper is often used as a gauge of global economic health and the bill is expected to boost a recovery in the world's biggest economy.