Copper prices have entered a period of narrow consolidation after six consecutive weeks of gains, supported by tightening supply and easing concerns about US interest rate hikes. The metal broke above $14,000 per ton last week, reaching its highest intraday level since a major surge in late January.

Market expectations that the White House will impose import tariffs have driven a large influx of copper into the United States, reducing supply in other regions and pushing up prices on the London Metal Exchange. The fading outlook for a Federal Reserve rate hike this year is also providing support for copper prices. On Friday, weaker-than-expected US employment data alleviated inflation worries, sparking a wave of bullish sentiment toward risk assets. Higher interest rates tend to suppress the global economy, which in turn weighs on metal prices.

"In the short term, copper prices are expected to remain elevated but with high volatility," said a report from CITIC Futures. Copper was trading at $14,080 per ton, essentially flat. Aluminum rose 0.5%, while zinc fell 0.3%. Singapore iron ore futures edged down 0.2% to $94.55 per ton.