Copper prices declined to their lowest level in more than a week on Monday as weaker economic data from China and a stronger US dollar affected expectations for demand.
Benchmark copper on the London Metal Exchange fell 1.8% to $14,364 per metric ton at 09:13 GMT.
Prices earlier reached $14,354 per metric ton, their lowest level since September 17.
China Industrial Profit Growth Slows
China’s industrial profit growth slowed in August, with gains in technology manufacturing linked to the artificial intelligence sector insufficient to offset weaker domestic demand.
China is the world’s largest consumer of copper, making economic data from the country a factor monitored by metals markets.
The US dollar also strengthened during the session, while rising oil prices were another factor cited in the decline in copper prices.