Institutions: Copper prices rise as fundamentals remain strong and expectations of Fed rate hikes cool

The weakening of the US dollar has increased the appeal of commodities priced in dollars, such as copper. They stated that fundamentals remain supportive, and with inventories continuing to decline, this indicates ongoing supply tightness. They added that in China, downstream demand for copper rods remains stable, although end-user consumption has yet to see a more robust improvement. Copper prices are expected to continue benefiting from improved macro sentiment and declining inventories. The London Metal Exchange three-month copper contract rose 0.6%, quoted at $13,446.50 per tonne.