Copper steadies below record as Fed caution tempers gain

From brecorder.com

Copper prices hovered below record highs on Wednesday, as investors braced for a possibly hawkish guidance from the US Federal Reserve following its two-day policy meeting. The most traded copper contract on the Shanghai Futures Exchange was down 0.37% at 91,720 yuan ($12,987.27) a metric ton as of 0315 GMT. Meanwhile, the benchmark three-month copper on the London Metal Exchange gained 0.67% to $11,564 a ton. Copper’s upward momentum unwound as the Fed’s rate decision approached, with the market expecting a “hawkish cut” in December at a time when inflation concerns lingered and resilience in the United ... (full story)