Copper futures traded lower on Monday due to concerns over sluggish demand and a lack of fresh stimulus measures in the world’s top metal consumer China. Copper prices declined further as strong US labour market data fuelled speculation that the US Fed will become more aggressive in fighting inflation.
Copper futures for September delivery lost $0.0195 or 0.52% at $3.7625 a pound on the Comex metals division of New York Mercantile Exchange.