Copper futures were at the $4.27 per pound mark on Monday, broadly holding their recent increase at their highest in two months as expectations of traction for buyers offset the pressure from a stronger dollar. Fresh data showed that imports of unwrought copper and products to China soared by 18% to 559 thousand tonnes in December, the most in 13 months, pointing to greater intake from smelters to signal a rise in futures manufacturing activity. Concurrently, exports of goods from the world's top manufacturer expanded more than expected. The data added to a strong month for base metals as the Chinese government pledged aggressive bouts of economic support to stimulate consumption this year, both through monetary and fiscal policy. On the other hand, a sharper rebound was capped by the dollar’s rally following strong labor data in the US, pressuring demand for greenback-priced commodities by foreign consumers.
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