Reuters reported that a poor demand outlook for industrial metals — caused by indications of weak global growth — brought copper to almost a three-week low.
As quoted in the market news:
Benchmark three-month copper on the London Metal Exchange (LME) closed at $8,119, from a close of $8,207 on Friday. It earlier fell to an intraday low at $8,107, its lowest level since Jan. 30.
Copper hit a four-month peak of $8,346 in early February but has since struggled to gain traction. Traders hope that China’s return to the market this week could help set a floor under prices.