Copper futures settled lower on Tuesday on weak demand from the world’s top metal consumer after Chinese industrial output and retail sales growth missed expectations in April, while a rebound in the US dollar and worries about the US debt-ceiling debate also adding more pressure on red metal prices.
Copper futures for July delivery lost $0.0840 to settle at $3.6670 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.83 percent at $8,121.50 a ton.