Copper futures settled lower on Tuesday with caution ahead of negotiations over raising the US debt ceiling, while signs of a slowdown in global manufacturing activity also weighed on copper prices. Red metal prices were also pressured by a resurgence in the US dollar in line with expectations that the US central bank will keep interest rates higher for longer this year.
Copper futures for July delivery lost $0.0305 to settle at $3.6545 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.31 percent at $8,102 a ton.