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Copper falls as higher oil prices stoke inflation fears
Copper fell on Monday as elevated oil prices fuelled inflation concerns, supporting the US dollar and dampening expectations for rate cuts by the Federal Reserve. The most-active copper contract on the Shanghai Futures Exchange declined 1.28% to 99,310 yuan ($14,390.04) a metric ton, as of 0330 GMT. The benchmark three-month copper contract on the London Metal Exchange slipped 0.32% to $12,740 a ton.Brent futures remained above $100 a barrel as the US-Israeli war on Iran stretched beyond its second week, adding to inflation fears with the US consumer spending rising in January. The Fed is widely expected to hold ... (full story)
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