The afterglow of Greek elections on Sunday, the second round since inconclusive ones in early May, wore off and a focus on Spain sharpened. But election results still are significant for the industrial metal, which is sensitive to worldwide economic and financial activity due to its myriad uses in manufacturing, construction and other industry.
"In the short term it's hard to see how there's going to be a convincing rally with all of the ongoing macro problems overhanging the market. It's so much driven by the changes in sentiment for Greek elections, French elections, the Fed meeting coming up," analyst Wiktor Bielski with VTB Capital in London told the news agency.
At 2:28 p.m. on Monday, copper futures climbed 0.28 percent, a 0.0095 cent loss to $3.40 per pound.
A dismal outlook for economic growth weighed heavily on the reddish metal on Monday, offsetting elections returns in the Aegean nation, according to The Wall Street Journal.
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