Copper Steadies Amid Supply Focus During China Holiday

Copper prices have steadied after earlier gains as market participants focused on supply dynamics amidst China's ongoing holiday period. The London Metal Exchange (LME) contracts for copper retreated, wiping out initial advances, due to a strengthening US dollar and rising oil prices.

The benchmark oil futures climbed into triple digits, while the gauge of the US dollar rose, posing headwinds for industrial metals. A stronger dollar and higher energy costs are factors weighing on copper's performance.