Copper futures settle lower on Monday
Copper futures settled lower on Monday, pressured by elevated inflation risk driven by stalled US–Iran peace talks and ongoing disruptions in the Strait of Hormuz. Growing inflation concerns that could tigger tighter monetary policy and mounting growth risks that may weaken global demand. However, tight supply conditions and strong restocking demand from China ahead of the Labor Day holiday, limited further losses in copper prices.
Copper futures for May delivery fell $0.0060 to settle at $6.0210 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.73% at $13,213.00 a ton.
