Copper prices rose Monday amid continued market optimism that a Trump presidency would boost infrastructure spending in the U.S.

Copper for December delivery settled up 0.5% at $2.5210 a pound on the Comex division of the New York Mercantile Exchange, closing near its highest level in more than a year.

The gains extended a multiweek rally for the industrial metal, which picked up steam after Donald Trump won the U.S. presidential election last week.

Given that Trump campaigned on a platform of increased infrastructure investment within the U.S...the metals complex is understandably bullish on the prospect of a Trump presidency and the raw material requirements that his plans would require, Dane Davis,an analyst at Barclays, wrote in a report.

Falling copper inventories in China, the worlds biggest consumer, are also supportive of prices, Barclays said. A decline in inventories tends to suggest that metal is being moved out of warehouses for consumption.

 Improved demand outlook in China has boosted copper prices in the past month, as the government has proposed more spending on buildings and infrastructure.

In terms of copper demand, our strategists believe these expectations reinforce our longstanding view for a modest improvement in market prices over the midterm, Citi analysts wrote about Chinas economic plans.

However, some analysts remain skeptical over coppers ability to hold on to gains.

In the near-term, the markets reaction to the election reinforces our view that base metals prices can continue to stay well supported into the year-end; however, while hard to quantify and time at this juncture, ultimately we believe the overshoot will correct itself as the fundamental demand impacts eventually underwhelm, J.P. Morgan said in a Monday note.