London copper prices experienced a decline on Monday due to the negative impact of expectations for higher interest rates in the United States, which affected overall risk sentiment. Additionally, there was a slowdown in purchasing activity in anticipation of a major public holiday in China, which is one of the largest consumers of copper.
The prospects of higher interest rates in the US contributed to a decrease in risk sentiment, leading to a decline in copper prices. Investors were cautious about the potential impact of these rate hikes on global economic growth and trade. Simultaneously, buying activity for copper slowed down as Chinese consumers prepared for a long public holiday, reducing demand in the market.
This decrease in copper prices in London reflects the cautious nature of investors regarding global economic conditions and the potential impact of interest rate changes. The slowdown in purchasing ahead of a major holiday in China further dampened the demand for copper.
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