Shanghai Futures Exchange copper ended up 0.3 percent at 40,280 yuan ($6,489) a tonne on Tuesday with the dollar strengthening on worries over whether Greece's parliament would accept terms of a debt deal. Uncertainty pushed the dollar higher, making commodities priced in the greenback more expensive for buyers holding other currencies.
But markets which were still digesting the aftermath of last week's stock market crash in China, were moderately soothed after the country's bank lending rose sharply in June. The crash will have drained liquidity from a credit-strapped metals industry that may crimp further buying, keeping pressure firmly on copper prices, said analyst Judy Zhu of Standard Chartered in Shanghai. "It's quite likely this kind of pressure is going to last for a while until people see improvement in their cashflow ... it's possible that prices could see new (2015) lows from here."
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