Copper futures declined on Monday after mixed economic data from the world’s top metal consumer China. Chinese industrial production rose more than expected in the January-February period, while retail sales missed expectations and unemployment hit a five-month high. Moreover, uncertainty over plans by Chinese smelters to cut output at some loss-making plants also dampened sentiments.
Copper futures for May delivery lost 0.38% or $0.0155 at $4.1090 a pound on the Comex metals division of New York Mercantile Exchange.