Dollar Strength and Rate Hopes Weigh on Copper Prices

Copper prices fell on Tuesday as a stronger dollar and concerns about global economic growth outweighed fresh supply worries triggered by heavy stock withdrawal requests on the London Metal Exchange.

The three-month copper benchmark on the LME was down 0.18% at $14,247.5 a metric ton by 0701 GMT.

A stronger dollar makes greenback-denominated commodities more expensive for buyers using other currencies, and the dollar index was up 0.13%

The red metal's decline also reflects worries about interest rates and cautious economic sentiment, with traders pricing in a 42% chance of a rate hike at the Federal Reserve's September meeting.