Copper down

Sydney

Shanghai copper futures opened higher on Monday but quickly went into negative territory as investors cut bets that Chinese demand was getting stronger and that global tensions were easing.

Copper´s shift into the red pulled the rest of the ShFE metals complex lower. "Commodities struck a note of caution as investors continued to grapple with geopolitical risks amid mixed fundamentals," ANZ Bank said in a note. North Korea said on Sunday it was ready to sink a U.S. aircraft carrier to demonstrate its military might, in the latest sign of rising tension as U.S. President Donald Trump prepared to call the leaders of China and Japan.

Three-month copper on the London Metal Exchange managed a 0.07 percent rise to $5,662 a tonne after ending last week lower. The most-traded copper contract on the Shanghai Futures Exchange dropped 0.24 percent to 45,880 yuan ($6,664)a tonne.