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Copper, aluminium hit two-week low on hawkish Fed comment, higher stocks
Copper and aluminium prices fell to a two-week low in London on Friday as hawkish comments from U.S. Federal Reserve Chair Jerome Powell dashed expectations of a peak in interest rates and as exchange stocks rose. Three-month copper on the London Metal Exchange (LME) was down 0.9% at $8,074.5 per metric ton by 1128 GMT, after touching $8,063.5, it lowest since Oct. 27. Aluminium was down 1.1% at $2,218 a ton, after also hitting its weakest since Oct. 27 at $2,212.5. Fed officials including Powell on Thursday expressed uncertainty in their battle against inflation and added that they would tighten policy further if ... (full story)