Copper Ends at 2-Week Low on Weaker Chinese Imports

U.S. copper futures closed down at a two week low on Monday as investors worry about an economic recession in the United States and less demand from China.

In previous weeks, copper prices have been lifted by demand from China. However, on Monday, a report may point to waning demand as the Beijing Customs office said China's imports decreased 226,980 tons in February, down 5.2 percent from the 239,000 metric tons in January.

Copper futures for May delivery rose 0.50 cents or 0.13 percent to $3.80 a pound on the Comex division of the New York Mercantile Exchange. Earlier in the session the red metal fell to $3.7950 a pound, its lowest level since February 26.

In the London Metal Exchange, Copper Futures fell $5 or 0.06 percent to $8,628 a metric ton.

Copper settled up to $3.9215 per pound on Friday despite a report from the U.S. Labor Department showing a greater-than-expected loss of 63,000 jobs in February in the world's second largest consumer of the red metal.