Copper futures settle down on Tuesday
Copper futures settled lower on Tuesday as the US dollar strengthened against its major peers overseas, making dollar-denominated copper more expensive for international buyers. However, US President Donald Trump announced late Tuesday that he would extend the ceasefire with Iran indefinitely at the request of Pakistani leaders. Despite the truce, Trump directed the US military to continue its naval blockade of Iranian ports until a final peace deal is reached.
Copper futures for May delivery fell $0.0355 to settle at $6.0105 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.34% at $13,230.50 a ton.
