Copper futures settled lower on Monday with concerns over weakening demand from the world’s top metal consumer after lower-than-expected Chinese exports data. In dollar terms, China’s exports in May grew 27.9% on-year, but slower than the 32.3% growth in April and missing forecast of 32.1%. However, weakness in the US dollar helped to cap further losses in red metal prices.
Copper futures for July delivery fell $0.0025 to settle at $4.5265 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.55 percent at $9,900.50 a ton.