• Copper prices rose on Monday amid optimism around a U.S. stimulus.
• Copper is often used as a gauge of global economic health.
• The commodity rose 1% to $7,990 a tonne on the London Metal Exchange.

Absa Bank Zambia says Copper prices have today escalated as optimism around a U.S. stimulus raised hopes of better demand for metals and a recovery in the world’s biggest economy.
According to the bank’s latest market update report, three-month copper on the London Metal Exchange rose 1% to $7,990 a tonne by 03:14 GMT, while the most-traded March copper contract on the Shanghai Futures Exchange advanced 1.6 to 58,810 Yuan equivalent to $9,107.24 a tonne.
Copper, is often used as a gauge of global economic health.
Meanwhile, the Bank noted that Oil prices have escalated to their highest in just over a year, with Brent futures pushing past $60 a barrel, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus measures to boost demand.
It said according to Bloomberg and Reuters, Brent crude for April touched an intraday high of $60.06 a barrel, the highest since January last year, adding that the front-month contract was at $59.98 by 05:37 GMT, up 64 cents, or 1.1%.
On the other hand, “Gold prices edged higher on Monday, as softer U.S. jobs data cemented hopes of further fiscal stimulus and pressured the dollar, although bullion’s gains were capped by higher Treasury yields.”
Spot gold was up 0.1% at $1,813.96 per ounce by 05:52 GMT, while U.S. gold futures rose 0.1% to $1,815.50.