Copper futures settled lower on Tuesday as new coronavirus outbreaks threatened to derail a global economic recovery and boosted the US dollar, which makes metals more expensive for buyers outside the United States. Further, huge supply of the metal also weighed its appeal.
Copper futures for September delivery lost $0.0140 to settle at $4.2645 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.57 percent at $9,334.50 a ton.