Copper costs dip over 1% following Federal Reserve’s fewer price cuts sign

Investing.com — Copper costs are down greater than 1% after the Federal Reserve hinted at fewer price cuts for the upcoming 12 months.

The shift to a extra hawkish stance by the Fed has resulted in a rise in bond yields, a surge within the power of the greenback to 25-month highs, and a spike in volatility. This shift has additionally led to a pointy decline in key commodity currencies.

Market contributors have expressed concern that there is not a lot on the annual calendar to halt this downward pattern. The three-month London Steel Alternate (LME) copper contract has registered a 1.5% lower, buying and selling at $8,912 a ton.

Along with the Federal Reserve’s stance, looming U.S. tariffs on Chinese language items and uncertainties surrounding China’s home demand outlook proceed to stress the market.

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