Copper prices snapped four sessions of gains to edge lower on Monday, as the prospects of aggressive interest rate hikes globally and tightening monetary stimulus soured risk sentiment.
Three-month copper on the London Metal Exchange CMCU3 was down 1.3% at $7,464.50 a tonne, as of 0337 GMT, aluminium CMAL3 fell 0.5% to $2,151 a tonne, lead CMPB3 shed 0.9% to $1,891.50 a tonne and tin CMSN3 lost 1.4% to $20,350 a tonne.
Federal Reserve officials have continued in the past week to beat the drum for an aggressive campaign to lower the highest levels of inflation seen in the United States in 40 years.
With U.S. data signalling stubborn inflation, traders expect more aggressive rate hikes that could hurt global economic growth and demand for metals.
The Shanghai Futures Exchange is closed for a public holiday in China from Oct. 1 until Oct. 7.
LME zinc CMZN3 rose 0.6% on fears of further smelter shutdowns.
