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Copper futures settle higher on Tuesday

17 Jun 2026 Evaluate
Copper futures settled higher on Tuesday, following reports that the US and Iran reached an agreement to end the conflict and reopen the Strait of Hormuz which is set to be signed on Friday. Copper prices got some support by longer-term demand themes tied to artificial intelligence and the energy transition. Uncertainty regarding potential US import tariffs also kept copper prices bullish. Meanwhile, investors awaited the Federal Reserve’s latest policy decision, where officials are widely expected to leave interest rates unchanged. 

Copper futures for July delivery rose $0.0075 to settle at $6.5035 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.21% at $13,774 a ton.

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