Copper futures rallied on supply chain concerns despite a strengthening dollar.

December Copper futures rallied in 3 of the last 4 sessions, closing above its 200-day moving average. The rally has entered a large price gap that was formed on July 30 and 31. Supply issues persist as Freeport-McMoRan's Grasberg copper mine remains closed, removing an estimated 500,000 to 600,000 metric tons of copper from the annual supply. Despite a reversal in the US dollar's price, the industrial metal has held firm, with softer bond yields and rate cut expectations providing additional support for copper futures.