Dalian and Singapore iron ore futures were firmer on Monday, rebounding from oversold levels, although traders' disappointment particularly over the demand for construction steel products in China capped gains.

Copper prices are likely to hit a record high in the next 12 months, commodity trading major Trafigura has forecast, citing the rebound in China’s economy and short supply.

Aluminium yesterday settled down by -0.24% at 205.65 as the resumption of production by aluminum smelters in Sichuan, Guizhou, and other places has led to a slight recovery on the supply side. Downstream consumption continued to pick up, driving domestic aluminum

The euro and sterling fell sharply against a strengthening dollar on Friday amid nervousness over banks, with better-than expected economic data failing to lift sentiment.