Copper futures settled lower on Tuesday due to worries about Chinese demand. Copper prices also weakened by expectation that the US Fed will hike interest rates by 75 basis points later this month. However, a lower US currency makes dollar-priced commodities cheaper for holders of other currencies.
Copper futures for September delivery lost $0.0550 to settle at $3.2910 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 2.01 percent at $7,277.50 a ton.