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19-Sep2016

Copper futures trade lower on Monday

Copper futures traded lower on Monday after a global mining firm restarted operations after a strike at its Los Bronces mine in central Chile, bolstering supply from the world's largest producer. However, encouraging economic data from China suggested stronger growth in the next few months from the world's top importer, capping some losses. Reports showed business confidence among entrepreneurs has picked up for the second quarter in a row in 2016, while average new home prices in China's 70 major cities rose 9.2 percent in August from a year earlier.

Copper futures for December delivery fell 0.14 percent to $2.155 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange was down 1 percent to $4,738 a metric ton.


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