China's GDP fell short of expectations, and copper fell

Copper futures fell to around $4.55 per pound on Monday, extending the decline from last week. The fact that economic indicators in China, which is a top consumer country, were disappointing became a burden of sentiment, but traders expected that weak data would lead to further stimulus measures.

Amid the prolonged real estate recession, sluggish domestic demand, and heightened trade friction with Europe and the United States, the growth rate of the Chinese economy in the second quarter fell short of expectations.

Investors are now awaiting the results of this week's 3rd National Congress, where China's top leaders discuss reform and modernization plans.

Copper prices were also pressured by the appreciation of the dollar, which was bought as a safe asset in response to the attempted assassination of former US President Donald Trump.

Meanwhile, copper stocks increased to 206,778 tons last week, a high level since October 2021, according to data from the London Metal Exchange.