Copper futures traded lower on Monday on account of weak industrial data from the world’s top metal consumer China. Moreover, firm US dollar index following the US Fed Chairman Jerome Powell’s warning of more interest rate hikes to fight inflation, also adding pressure on copper prices.
Copper futures for September delivery lost $0.0755 or 2.04% at $3.6215 a pound on the Comex metals division of New York Mercantile Exchange.