Copper declines as dollar gains ground amid Fed uncertainity

Copper prices declined on Monday as the dollar steadied against most major rivals amid uncertainity about the Federal Reserve's upcoming policy decisions. 

Copper three-month futures at the London Metals Exchange fell 0.3% to $8524 a tonne, while January copper futures at the Shanghai Exchange fell 0.2% to $9622 a tonne. 

The dollar index stabilized after New York Fed President said it's still too early to talk about interest rate cuts.

A drop in dollar usually boosts dollar-denominated metal futures and vice versa. 

However, copper is underpinned by potential drops in supply, especially from the FM.TO Cobre mine in Panama. 

Aluminium prices fell 0.7% at the London Metals Exchange to $2233, while nickel fell 1% to $16975, as zinc fell 0.8% to $2511, while lead shed 0.3% to $2075. 

Otherwise, the dollar index stabilized at 102.5 as of 16:21 GMT to 102.6, with a session-low at 102.3, 

Copper March futures fell 0.7% as of 16:14 GMT to $3.86 a pound.