Rate-hike bets cool as Chile copper mine accident adds to supply concerns, copper prices extend gains.

Zhito Finance APP has learned that traders turned more optimistic on the interest rate outlook and assessed the supply-side impact of a fatal mining accident in Chile, extending copper's gains. Copper prices rose as much as 0.6% on Monday. The pullback in oil prices has strengthened market expectations that central banks may pause further rate hikes to curb energy-driven inflation. Meanwhile, investors are still weighing the geopolitical risks from escalating hostilities in the Middle East and awaiting U.S. inflation data due midweek. Rising borrowing costs typically reduce the appeal of non-yielding commodities.