Copper futures were trading marginally down on Monday as firm US dollar ahead of the Federal Reserve’s policy meeting this week, makes copper more expensive for non-dollar holders to purchase the greenback-priced commodity. Moreover, concerns over sluggish demand outlook from the world’s top metal consumer China and escalating geopolitical tensions also weighed on copper prices.
Copper futures for March delivery lost 0.05% or $0.002 at $3.85 a pound on the Comex metals division of New York Mercantile Exchange.