Copper futures traded lower on Monday amid concerns over the pace of US economic recovery, while week long holiday in key consumer China too adding pressure on copper prices. Though, reports that Chile’s copper production fell 6.2% year on year in August to 481,700 tons, capped some losses.
Copper futures for December delivery lost $0.0110 at $2.9665 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was up 0.1% at $6,556 a ton.