Copper futures were trading down on Monday after data showed slowing Chinese industrial output growth in April. Copper prices weakened further following a surprise move by Moody’s to downgrade the US’ sovereign credit rating from AAA to Aa1. Moreover, renewed trade tensions fuelled by US Treasury Secretary Scott Bessent's reaffirmation of US President Donald Trump's tariff threats, has also dampened copper prices.
Copper futures for July delivery lost $0.0280 or 0.61% at $4.5655 a pound on the Comex metals division of New York Mercantile Exchange.