Copper futures slipped below $6.2 per pound on Monday, as copper declines extended into a third consecutive session amid rising concerns over inflation and slowing global demand.
Growing evidence that Middle East-related energy price shocks are fueling broader inflationary pressures has strengthened expectations for tighter central bank policy in the coming months.
In the latest developments, President Donald Trump warned that Tehran is running out of time to reach an agreement with Washington, while Iranian media reports indicated that negotiations remain deadlocked.
Higher interest rates are expected to weigh on global economic growth and manufacturing activity, adding further pressure as copper declines continue across industrial metals markets.
Market sentiment was also hurt by signs of weakness in China’s economy. Retail sales and industrial production both came in below expectations, while fixed asset investment unexpectedly contracted, raising concerns over demand prospects in the world’s largest copper-consuming nation.
