Copper prices in London fell on Monday as a stronger dollar made the greenback-priced metal more expensive, while investors were in wait-and-watch mode with a US Federal Reserve meeting taking the spotlight in a week full of central bank events.
The dollar held firm as markets were also concerned about troubled developer China Evergrande Group’s debt crisis, which some analysts feared would ripple beyond the Chinese property market.
Three-month copper on the London Metal Exchange fell 1.7 percent to $9,154.50 a ton.
Policymakers from major economies including Japan and the UK are due to meet this week, though the focus is on the Fed’s two-day meeting that will conclude on Wednesday, with markets expecting it will stick with broad plans to begin tapering this year. – Reuters
