Copper futures traded down on Monday with caution ahead of China’s national people's congress meetings for 2024 for possible policy moves as China is facing a slew of economic headwinds. However, some losses were limited by bets that the US Federal Reserve will cut interest rate in June after slowdown in manufacturing activity and a drop in consumer sentiment in the United States.
Copper futures for May delivery lost 0.36% or $0.0140 at $3.8475 a pound on the Comex metals division of New York Mercantile Exchange.