Copper futures ended almost steady on Monday as escalating military conflict between the United States and Iran along with rising crude oil prices kept inflationary pressures and interest-rate hike expectations in focus. Additionally, a stronger US dollar made dollar-denominated metals more expensive for buyers using other currencies. Meanwhile, Copper inventories in LME-approved warehouses have fallen more than 20% since the end of May to a four-month low of 305,200 tons.
Copper futures for September delivery fell $0.001 to settle at $6.2810 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.42% at $13,541 a ton.