Copper futures settled marginally down on Monday, driven by subdued demand prospects in the world’s top metal consumer China. Meanwhile, investors are cautiously awaiting Friday's release of the US personal consumption expenditures price index and comments from Fed officials for additional clues on the outlook for interest rates. Moreover, a significant upturn in deliveries to warehouses approved by the London Metal Exchange also adding pressure on copper prices.
Copper futures for July delivery lost $0.0050 to settle at $4.4370 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.22 percent at $9,661 a ton.