Copper futures traded lower on Monday on account of investors cut their positions even after the world’s top metal consumer China relaxed its strict coronavirus restrictions which boosted the demand prospects of the copper. Meanwhile a stronger US dollar also make dollar-priced metals more expensive to holders of other currencies.
Copper futures for December delivery lost 0.56% or $0.0220 at $3.9135 a pound on the Comex metals division of New York Mercantile Exchange.