Copper futures settled higher on Tuesday driven by strong global demand and supply constraints, while traders were rushing to move refined copper into the United States ahead of a critical June 2026 tariff decision by the Trump administration. However, these gains were limited by concerns over the ongoing conflict with Iran.
Copper futures for July delivery rose $0.124 to settle at $6.6765 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.51% at $14,040.50 a ton.