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Copper rises with Fed rate cut, worries about outflows to US stocks
Copper prices rose on Thursday as the U.S. Federal Reserve cut interest rates, while continuing outflows to U.S. copper stocks supported worries about tighter supply in the rest of the world. The benchmark three-month copper on the London Metal Exchange rose 0.8% to $11,646 per metric ton by 1044 GMT. Heading for the largest yearly growth since 2009, the metal, used in power and construction, is up 33% so far this year after hitting a record high of $11,771 on Monday due to mine supply disruptions and outflows of copper to the U.S. “The only reason why copper has been rallying is because of the market perception ... (full story)
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