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Copper prices climb on Fed rate hike pause expectations.
Copper prices have soared to $8,333.50 per ton today as investors’ confidence is bolstered by the prospect of an end to the Federal Reserve’s interest rate hikes. The sentiment has been fueled by recent U.S. economic indicators suggesting a slowdown, which could potentially halt the aggressive monetary tightening that has been in place.
This optimism in the market is a continuation of last week’s performance when copper recorded significant gains on the London Metal Exchange. Investors are reacting to the evolving economic landscape, with signs pointing towards a more cautious approach from the Fed in response to domestic economic signals.