Copper futures were trading lower on Monday, due to profit booking at higher levels ahead of China’s public holidays from October 1 to 7. Copper prices also came under pressure as expectations grew that the Fed may continue raising interest rates to contain inflation. Moreover, firm US dollar makes dollar-priced metals more expensive for buyers holding other currencies.
Copper futures for December delivery fell $0.0965 or 1.43% at $6.6695 a pound on the Comex metals division of New York Mercantile Exchange.