Copper futures settled lower on Monday due to sluggish demand following weakness in the Chinese property market, despite expectations that Chinese central bank PBoC will lend money for banks to roll over the debts of developers. Further, strong dollar with expectations of US interest rate hike also weighed on copper prices.
Copper futures for December delivery fell $0.0495 to settle at $4.4000 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.39 percent at $9,673 a ton.