Copper fell on Tuesday, with investors closing long positions as they waited for a meeting of central bankers later this week for fresh clues on possible monetary easing from the U.S. Federal Reserve.

The LME reopened after a bank holiday on Monday with its three-month copper contract falling 0.6 % to $7,597 Japan's output of copper and copper- alloy fabricated products, including sheets and tubes, tumbled for a 14th month in July as the country pared its assessment of the economy, an industry group said. Production was 68,510 metric tons last month, down 5.7 % from 72,658 tons a year ago, the Japan Copper & Brass Association said, citing preliminary data.

Economist Shayne Heffernan of Market Outlook

Shayne Heffernan

Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.

Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.Read the Terms of Service