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Copper futures trade lower on strong dollar

15 May 2023 Evaluate

Copper futures traded lower on Monday as the US dollar strengthened against its major peers after a survey of US consumers' long-term inflation expectations jumped to the highest since 2011. Moreover, lacklustre demand from the world’s top metal consumer China also adding pressure on red metal prices. Meanwhile, investors are awaiting China's monthly industrial production, retail sales and fixed asset investment data due on Tuesday.

Copper futures for May delivery lost 0.44% or $0.0165 at $3.7120 a pound on the comex metals division of New York Mercantile Exchange.

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