Copper futures settled down on Tuesday on concerns over tepid demand following lack of fresh stimulus measures in the world’s top metal consumer China. Moreover, lingering concerns over the interest rate hike path of the US Federal Reserve in July also putting more pressure on copper prices.
Copper futures for July delivery lost $0.0135 to settle at $3.7705 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.33 percent at $8,363 a ton.