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Copper futures decline on rising US dollar

07 Jun 2021 Evaluate

Copper futures declined on Monday following rising US dollar, even as the latest US jobs report signalled signs of US recovery and calmed concerns of an early policy tightening. The Department of Labour declared in a report that US nonfarm payrolls increased by a solid 559,000 jobs and the joblessness rate dropped to 5.8 percent in May.

Copper futures for July delivery fell $0.0305 at $4.4985 a pound on the Comex metals division of New York Mercantile Exchange. However, Copper on the London Metal Exchange was up 0.3 percent at $9,979.50 a ton.