Copper falls on pressure from AI stocks and caution ahead of the Fed meeting
Copper extended last week's decline amid pressure on artificial intelligence stocks, which curbed risk appetite ahead of the Federal Reserve's monetary policy meeting. The metal fell as much as 0.6% in London on Monday and later stood at US$14,247.50 a ton, down 0.5%. Supply in China remains tight due to lower domestic output and the flow of metal to the United States amid expected tariffs, while the Yangshan premium reached its highest level since 2017.
In 40 seconds
- Copper fell as much as 0.6% in London on Monday, after its second consecutive weekly decline, and traded at US$14,247.50 a ton.
- Pressure on AI stocks curbed risk appetite ahead of the Federal Reserve meeting on Wednesday.
- The market sees about a 10% chance of a rate hike at that meeting, though bets on a hike before year-end exceed 70%.
Read the full story at Bloomberg Línea
IASummary generated by artificial intelligence from a story by Bloomberg Línea. It may contain errors: the original source prevails.
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