Copper Price Measured Ahead of Fed Comments

Copper for delivery in three months on the London Metal Exchange made modest gains of 0.1 percent to $7,130 a ton tonne on Tuesday, according to Bloomberg. The dollar strengthened ahead of Federal Reserve Janet Yellen’s address to U.S. lawmakers on monetary policy.

“The market is expecting another dovish performance, with the emphasis on supporting growth,” Nic Brown, head of commodities research at Natixis SA in London, told Bloomberg. “If we get anything radically different, the market could get spooked.”

Copper for delivery in September on New York’s Comex rose less than 0.1 percent or $0.003 to $3.24 per pound, the publication reported.