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Copper futures trade down despite solid Chinese data

21 Sep 2020 Evaluate

Copper futures traded down on Monday, despite a recovery in China’s industrial production growth. Data showed China's value-added industrial output went up 5.6 percent year on year in August, accelerating from a rise of 4.8 percent registered in July. While, weak dollar against its peers supported copper prices and capped its losses.

Copper futures for December delivery fell $0.0035 at $3.1125 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was up 0.6% at $6,855.50 a ton.