Mining
Copper price falls as markets brace for US rate hikes
Copper for delivery in December fell 1% from Tuesday’s settlement price, touching $3.52 per pound ($7,744 per tonne).
The dollar also hit its biggest one-day price since March 2020.
“Where’s the growth?” said a trader in London, suggesting that metals prices may fall further.
“If the US is raising rates faster than other countries, that will exert upward dollar pressure and all commodities priced in dollars will take a hit,” said WisdomTree analyst Nitesh Shah.
[Click here for an interactive chart of copper prices]
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