Copper futures traded down on Monday after the US Federal Reserve officials pushed back against expectations of aggressive interest rate cuts next year. Investors are also cautiously awaiting a slew of US economic data due later this week for more clarity on the US Federal Reserve’s interest rate path. Although, tightening supplies of copper concentrate limited further falls in copper prices.
Copper futures for March delivery lost 0.12% or $0.0045 at $3.8860 a pound on the Comex metals division of New York Mercantile Exchange.