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Copper bounces from 3-week low; Fed decision in focus
Copper rose marginally from a more-than-three-week low on Wednesday, even as investors expect the US Federal Reserve to hike interest rates later in the day. Three-month copper on the London Metal Exchange rose 0.53% to $14,158 a metric ton by 0330 GMT, after touching $13,926 on Tuesday. The most-traded copper contract on the Shanghai Futures Exchange gained 0.64% to 107,610 yuan ($16,037.97) a ton. Markets were pricing in an over 90% chance of a 25-basis-point Fed rate hike, up from near 60% a week earlier, in the face of sticky inflation. Higher interest rates typically pressure economic gro...
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