Industrial metals prices slipped on Monday as fresh COVID-19 curbs in top consumer China clouded demand outlook, while a stronger dollar added to the downbeat mood.
Three-month copper on the London Metal Exchange was down 1.1 percent at $7,988 a ton, its lowest since Nov. 10.
The most-traded December copper contract on the Shanghai Futures Exchange dipped 1.5 percent to 64,900 yuan ($9,057.04) a ton, its lowest since Nov. 4.
Beijing’s most populous district urged residents to stay at home on Monday, while local authorities in the Baiyun District of the southern Chinese city of Guangzhou locked down the area for five days as COVID-19 cases continue to mount.
Asian share markets turned hesitant, as investors fretted about the economic fallout from fresh COVID-19 restrictions in China.
The dollar index rose 0.2 percent against its rivals. A stronger dollar makes the greenback-priced metal costlier for buyers holding other currencies.
China kept its benchmark lending rates unchanged for a third straight month at the monthly fixing, matching market expectations.
