Copper gains over 2% as dollar slumps

Copper prices rose on Monday, as the US dollar fell against most majors and hit a 7-week low amid optimism expectations of more demand for commodities and metals after upbeat Chinese data.

Data showed on Friday the Chinese economy grew 18.3% during the first quarter of 2021, in line with analysts' forecasts.

Johns Hopkins University reported that the number of Covid-19 infections rose to over 140 million cases worldwide, with a death toll of more than 3 million cases.

The dollar index fell against a basket of currencies by 0.5% to 91.1 points as of 13:34 GMT, after it hit a high of 91.7 points and a low of 91.03 points.

Copper May futures rose 2.2% to $4.26 per pound as of 13:33 GMT, after hitting a high of $4.28 and a low of $4.15