Copper falls on demand concerns.

Copper futures fell below $4.2 per pound in late August, retreating from a five-week high due to demand concerns.

Australian mining company BHP Group has downwardly revised its outlook for Chinese demand this year and expressed cautious views on the short-term outlook for copper. However, the company warned of the possibility of price increases due to prolonged global deficits.

In other news, expectations of a rate cut by the Federal Reserve in September have boosted sentiment and supported commodity prices.

On the supply side, approximately 300 workers at Lundin Mining Corporation's copper mine in Chile have agreed to a new wage proposal over the weekend and returned to work.

However, wage negotiations have not yet been reached at other mines in Chile, posing a risk to approximately 4% of the world's copper supply.