Copper Rises to $7,155.25 per Tonne

Three-month copper on the London Metal Exchange rose 0.21 percent or $15.03 to $7,155.25 per tonne on Wednesday, according to Reuters. In New York the red metal rose 0.2 percent or $0.01 to $3.259 per pound, according to Bloomberg, breaking the longest losing streak for the metal since January 9. Investors are awaiting the results of the U.S. Federal Reserve policy meeting, which are to be released later today.

“If the Fed ensure further tapering, we could see further correction in the equity market, which is already in a selloff mode,” Naeem Aslam, chief market analyst at Ava Capital Markets Ltd, told Bloomberg. “This could also push industrial metals lower, as the dollar may strengthen.”