Copper futures settled in negative territory on Monday as the American currency strengthened against its major peers overseas on caution ahead of a backlog of US economic releases delayed by the recent government shutdown. In addition, concerns about a possible rate cut at the next central bank meeting in December followed by hawkish comments from Fed officials also dragged copper prices lower.
Copper futures for December delivery slipped $0.051 to settle at $5.0120 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.68% at $10,778.50 a ton.