Copper futures traded lower on Monday due to soft demand after data showed that profits at industrial firms in China slumped in the first four months of 2023. Moreover, rising stockpiles in exchange warehouses also adding pressure on copper prices. However, some losses were capped as US lawmakers agreed to raise the government's $31.4 trillion debt ceiling.
Copper futures for July delivery lost 0.12% or $0.0045 at $3.6775 a pound on the comex metals division of New York Mercantile Exchange.