Copper futures traded lower on Monday amid weak economic growth in the world’s top metal consumer China. Data showed that China's 6.3% GDP growth for the second quarter marked a 0.8% pace of growth from the first quarter, slower than the 2.2% quarter-on-quarter pace recorded in the first three months of 2023. Moreover, marginal gains in the US dollar also weakened copper prices.
Copper futures for September delivery lost $0.0420 or 1.07% at $3.8910 a pound on the Comex metals division of New York Mercantile Exchange.