Copper futures traded lower on Monday as fears over slowing Chinese economic growth coupled with lack of details on new stimulus measures from Beijing weighed on red metal prices. Moreover, stronger US dollar, rising US inflation and concerns over US Fed’s higher interest rates also adding more pressure on copper prices.
Copper futures for September delivery lost 0.71% or $0.0265 at $3.6925 a pound on the Comex metals division of New York Mercantile Exchange.