HANOI- Copper prices fell to their lowest in nearly 10 weeks on Monday, as fears of sooner-than-expected policy tightening by the US Federal Reserve strengthened the dollar.
Three-month copper on the London Metal Exchange CMCU3 fell as much as 0.4 percent to $9,105 a ton, its lowest since April 15. Last week, the contract dropped 8.6 percent, its biggest weekly fall since March 2020.
The most-traded July copper contract on the Shanghai Futures Exchange SCFcv1 shed as much as 2 percent to 66,480 yuan ($10,302.34) a ton, its lowest since April 14.
The dollar held near multi-month peaks against other major currencies after the US Federal Reserve surprised markets last week by signaling it would raise interest rates and end emergency bond-buying sooner than expected.
A stronger dollar made greenback-priced metals more expensive and less appealing to holders of other currencies.
