Copper Eases on Fed Rate Hike Concerns

AI Summary

Copper futures declined to approximately $6.55 per pound due to stronger US jobs data heightening expectations for a Federal Reserve interest rate hike, which negatively impacts demand outlook for industrial metals. Rising inflation risks persist amid increasing oil prices linked to the US-Iran tensions.

Copper futures slipped to around $6.55 per pound on Monday, ending a two-day rally as stronger-than-expected US jobs data strengthened expectations for a Federal Reserve rate hike this month, weighing on the demand outlook for industrial metals. Investors also assessed rising inflation risks after oil prices extended their gains as the US and Iran exchanged ...