Copper futures settled down on Wednesday due to subdued Chinese demand as recent data showed an economic rebound in China was running out of steam. Copper prices weakened further with growing expectations the US central bank will hike interest rates further in June. Meanwhile, investors are also focusing on negotiations among lawmakers over raising the US spending limit.
Copper futures for July delivery lost $0.0930 to settle at $3.5615 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 2.47 percent at $7,901.50 a ton.