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Copper futures settle down on Wednesday

04 Jun 2026 Evaluate
Copper futures settled down on Wednesday, despite uncertainty surrounding US tariffs on the metal and tightening supply elsewhere. Sentiment weakened as flaring tensions in the Middle East and rising crude prices stoked inflation jitters, which may prompt the Federal Reserve to tighten monetary policy. Furthermore, strong US labour market data and an expansion in the ISM Services PMI to 54.5 reinforced the Federal Reserve's ability to keep interest rates elevated, which strengthened the US dollar and weakened red metal prices.

Copper futures for July delivery fell $0.169 to settle at $6.5075 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.53% at $13,825 a ton.

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