COPPER- Poised for a Correction
Copper prices snapped a five-session winning streak on Tuesday as investors held off on making large bets ahead of a U.S. Federal Reserve meeting expected to give more direction on monetary policy.
Benchmark copper on the London Metal Exchange was down 0.8% at $9,735 per tonne at 1635 GMT, after touching its highest since June 15 at $9,924.
“Given the scale of moves we have seen since the (close of business) 19th July ... some sort of pause was to be expected especially given the Fed’s two-day meet,”.
Benchmark copper on the London Metal Exchange was down 0.8% at $9,735 per tonne at 1635 GMT, after touching its highest since June 15 at $9,924.
“Given the scale of moves we have seen since the (close of business) 19th July ... some sort of pause was to be expected especially given the Fed’s two-day meet,”.
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