0238 GMT - Iron ore futures fall in Asian trade. The decline is likely due to ongoing oversupply concerns, say ANZ Research analysts in a note. Imported iron ore inventories at Chinese ports are staying elevated, they say. Inventories at Chinese steel mills also rose 8% last week. The most-traded iron-ore contract on the Dalian Commodity Exchange drops 0.3% to 740.50 yuan a ton. (megan.cheah@wsj.com)
Copper Falls Amid Likely Profit-Taking -- Market Talk
0206 GMT - Copper prices fall in early Asia trade on likely profit-taking activities, after the base metal ended higher in the previous session as a pause U.S.-Iran fighting pushed oil prices lower and eased concerns over inflation and growth. Although copper has pulled back from $14,000 a metric ton, it still remains supported by supply risks, including sulphuric acid shortages and potential U.S. tariffs, ANZ Research strategists say in a note. The three-month copper contract on the London Metal Exchange is down 0.5% at $13,668.00 a metric ton.(amanda.lee@wsj.com)
Gold Declines Ahead of Central Bank Decisions -- Market Talk
0130 GMT - Gold falls in Asian trade. Some major central banks are set to announce their interest-rate decisions this week, with the Fed Reserve's due Wednesday, says DHF Capital's Bas Kooijman in a note. While the Fed, Bank of Japan and Bank of England are likely to leave rates unchanged, a hawkish tilt could cap any gains in gold, he says. The precious metal remains at risk amid elevated global yields in an environment where oil prices are volatile, he adds. A higher interest-rate environment typically pressures nonyielding assets such as gold. Spot gold drops 0.7% to $4,051.15 a troy ounce. (megan.cheah@wsj.com)
