Copper futures were trading down on Monday even as buying activity in China and flows of metal to the United States supported the demand outlook. Copper prices weakened by pressure from robust US jobs data that strengthened expectations for a Federal Reserve interest rate increase later this year. Meanwhile, escalating tensions in the Middle East also added to market concerns after Iran launched missiles toward Israel, driving energy prices higher and fuelled inflation concerns.
Copper futures for July delivery fell $0.0095 or 0.15% at $6.2750 a pound on the Comex metals division of New York Mercantile Exchange.