Comex copper futures retreated from the two-year high on Tuesday, while London copper prices held near two-year highs due to expectations of stronger demand from the world’s top consumer China, where a government-led infrastructure push has led to robust activity in the construction sector. China's official manufacturing purchasing managers' index (PMI) showed a 12th straight month of expansion, while a private PMI survey showed manufacturing growth quickened in July.

Copper futures for September delivery fell 0.4 percent to settle at $2.881 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange closed down 0.4 percent at $6,345 a metric ton.

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