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Copper futures trade lower on Monday

06 Jun 2022 Evaluate

Copper futures traded lower on Monday as investors bet on more interest rate hikes over the upbeat US job report. However, relaxation of Covid-19 lockdowns in the world’s top metals consumer China capped a sharp fall in red metal prices.

Copper futures for July delivery lost $0.0590 or 1.32% at $4.4130 a pound on the Comex metals division of New York Mercantile Exchange.