Bearish
Copper prices dip ahead of Fed rate decision, LME at $13,647/ton
Copper prices declined on July 29, 2026, influenced by concerns over potential U.S. Federal Reserve interest rate hikes and a stronger U.S. dollar. The London Metal Exchange's three-month copper contract fell 0.28% to $13,647 per metric ton, while the Shanghai Futures Exchange's most-traded copper contract decreased by 0.21% to 104,830 yuan ($15,480.83) per ton. Investors are cautious ahead of the Federal Reserve's policy meeting conclusion, with expectations of steady rates but increased anticipation of a rate increase in September. Additionally, a selloff in AI-related stocks has dampened demand expectations for copper.
Key points
- Copper prices decline ahead of Fed rate decision
- China's June refined copper imports hit nine-month high
Sources
AI-generated from public news sources. Not financial advice.
