Copper prices drop 1.5% as dollar gains ground

Copper prices declined on Monday as the dollar rose against a basket of major rivals while markets assess potential monetary policies. 

Recent data showed US consumer prices fell 0.1% m/m in December as expected. 

Consumer prices rose 6.5% y/y last month, also as expected. 

Now markets are assessing upcoming steps by the Fed amid expectations the Fed will continue its efforts to control inflation and bring it back to 2%.

The dollar index rose 0.2% as of 15:35 GMT to 102.2, with a session-high at 102.3, and a low at 101.7. 

Copper futures due in March fell 1.5% to $4.15 a pound as of 15:19 GMT.