Copper futures settled lower on Tuesday, driven by strong US dollar as investors were worried about the Fed officials' hawkish remarks after Fed Governor Waller said that the Fed should be prepared to raise interest rates by 50 basis points at each future meeting until inflation coming down closer to the Fed's 2% target. Although, hopes for demand recovery from the world’s top metal consumer China capped further losses in copper prices.
Copper futures for July delivery lost $0.0105 to settle at $4.2960 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 1 percent at $9,447.50 a ton.