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Copper ticks higher as Fed rate hike bets fade
Copper rose for a second straight session on Monday, tracking equity markets higher and as fading prospects for a US Federal Reserve rate hike outweighed pressure from a strong dollar. Benchmark three-month copper on the London Metal Exchange was up 0.6% at $14,346 a metric ton as of 0951 GMT. The metal hit a record high of $14,875 on September 10 on concerns of tight supplies outside the US before losing ground last week. “Copper is helped by [an] uptick in equities as US Fed rate hike possibilities in October are dimming,” said Sandeep Daga, head of research at Metal Intelligence Centre. The...
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