Copper maintains rise in anticipation of Fed rate cuts
Copper futures remained above $4.5 per ounce on Thursday after rising more than 2% in the previous session, and remained close to their two-week high.
Federal Reserve Chairman Powell also stated this week that recent data shows a shift to a disinflationary trend, but further confidence in the inflation outlook is necessary in order to implement policy easing.
Lower interest rates in the US may boost global economic growth and aggregate demand, and underpin commodity prices.
According to data from the Shanghai Futures Exchange, China's copper inventory declined for 3 consecutive weeks after a sharp increase in 2024.
Meanwhile, copper stocks in warehouses monitored by LME increased to 186,450 tons, a high level since 2023/10.
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