Copper futures fell on Monday as a rising dollar and concerns about weak demand from top consumer China kept traders on the sidelines.
Three-month copper on the London Metal Exchange was down 0.2% at $9,661.5 per metric tonne, at 0303 GMT. Prices fell 13% after hitting an all-time high above $11,100 last month.
The most traded July copper contract on the Shanghai Futures Exchange lost 1.5% to 78,490 yuan ($10,809.21) a tonne.
The U.S. dollar remained near an eight-week high as traders eagerly await further clues on the direction of U.S. inflation this week, which will likely influence interest rates.
A stronger dollar makes green-priced metals less attractive to buyers holding other currencies.
Copper stocks at SHFE have increased tenfold since the start of the year to 322,910 tonnes, indicating ample supply in China.
Tax revenue in China fell 2.8% in the first five months of 2024 from a year earlier, official data showed, as weak demand drags on economic recovery.
LME aluminum slipped 0.3% to $2,507 a tonne, nickel rose 0.5% to $17,315, zinc was flat at $2,841.5, lead lost 0, 3% to $2,184.5 and tin rose 0.3% to $32,765.
SHFE aluminum fell almost 1% to 20,320 yuan per tonne, nickel fell 0.2% to 135,050 yuan, lead gained 0.4% to 18,890 yuan, while zinc fell 0.4% to 23,745 yuan and tin fell 0.8% to 271,750 yuan.
For the latest news on metals and other topics, click or
DATA/EVENTS (GMT, June) 0800 Germany Ifo business climate New 0800 Germany Ifo current conditions New 0800 Germany Ifo expectations New
($1 = 7.2615 yuan) (Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Sherry Jacob-Phillips)
