Copper futures settled lower on Monday as the US dollar strengthened against a basket of major rivals makes copper more expensive for holders of other currencies. Moreover, geopolitical tensions in the Middle East, increasing exchange inventories, and mixed factory activity data from China have also raised doubts about demand. Meanwhile, investors are awaiting China’s trade and inflation data due later this week.
Copper futures for December delivery lost $0.0885 to settle at $3.8205 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.95 percent at $8,443 a ton.