Base Metals Preview: Copper stays pressured by firm dollar overseas, weak China data

Copper futures stay pressured by dollar strength amid elevated oil prices and higher interest rates. Meanwhile, data showed that China's industrial profits grew by 4.2% year-on-year in August 2026, marking the weakest pace of growth for the year and the fourth consecutive month of deceleration. Meanwhile, stocks on Wall Street fluctuated but remained mostly lower and major averages all moved to the downside on the day following the strength seen during last Friday's session. The tech-heavy Nasdaq slumped 248.34 points or 0.9 percent to 26,820.38, the S&P 500 slid 59.72 points or 0.8 percent to 7,683.69 and the Dow fell 347.11 points or 0.7 percent to 51,481.51. the red metal is currently seen quoting at $6.61 per pound, down 0.32% on the day.

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