Copper futures hit their highest levels in ten years on Monday as several factors, including supply concerns, a weaker dollar, the Biden administration's plan to improve infrastructure, growth in renewable energy, and China's increasing demand, continue to fuel expectations of higher demand for the industrial metal.

The dollar continues to edge lower Monday amid speculation Federal Reserve Chairman Jerome Powell will not announce tapering at this week's meeting, fueling higher copper prices. 

Meanwhile, traders are concerned about supply due to a strike in Chile.