Copper value slips as greenback companies after Fed minutes

“A really tight job market and unabated inflation would possibly require the Fed to boost rates of interest prior to anticipated,” policymakers stated, fuelling expectations of a price hike in March.

Whereas a firmer US greenback makes greenback-priced metals costlier to holders of different currencies, an rate of interest hike may trim liquidity in monetary markets and gradual restoration on this planet’s greatest financial system.

March supply contracts had been exchanging fingers for $4.36 a pound ($9,592 a tonne) on the Comex market in New York, down 1.1% in comparison with Wednesday’s closing.

Click on right here for an interactive chart of copper costs.

Essentially the most-traded February copper contract on the Shanghai Futures Trade slipped 0.7% to 69,730 yuan ($10,944.05) a tonne.

(With recordsdata from Reuters)

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