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Copper breaks above $11,000 on increased likelihood of US rate cut

From brecorder.com

Copper prices rose to their highest in almost a month on Wednesday on growing expectations that the U.S. Federal Reserve will cut interest rates in December and that prices will rise further after outflows to U.S. stocks. Benchmark three-month copper on the London Metal Exchange was up 1.6% at $10,993.50 a metric ton by 1033 GMT after hitting $11,025 for its highest since October 30. The metal used in power and construction hit a record high of $11,200 on October 29, boosted by worries over tighter copper supply from the Grasberg mine in Indonesia this year and next. “Upside risks for copper are rising, with the ... (full story)

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  • Category: Fundamental Analysis