Copper futures traded lower on Monday after release of downbeat US employment report, while China saw its biggest daily increase in Covid-19 cases in more than five months too added pressure on industrial metal prices. Though, hopes for stimulus package worth trillions of dollars from Washington to boost the world’s largest economy, capped some losses.
Copper futures for March delivery lost $0.0540 at $3.6195 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 1.1% at $8,044.50 a ton.