Copper futures traded lower on Monday due to market expectations of aggressive rate hike by the US Fed later this week to cool down record high inflation. Moreover, the world's largest copper miner Codelco in Chile is expected to gradually restart operations at some of its mining projects also adding pressure on copper prices. Although, weakness in the US dollar index capped further fall in copper prices.
Copper futures for September delivery lost $0.011 or 0.33% at $3.3385 a pound on the Comex metals division of New York Mercantile Exchange.