Prices of copper moved in small ranges on Wednesday amid caution ahead of the US Federal Reserve's rate decision expected later in the day, while rising inventories capped any strong gains, reports Reuters.
Three-month copper on the London Metal Exchange CMCU3 rose 0.3 per cent to $8,315 per ton by 0613 GMT, while the most-traded October copper contract on the Shanghai Futures Exchange SCFcv1 declined 0.3 per cent to 68,790 yuan ($9,424.71) a ton.
LME copper inventories rose to the highest since May 2022 at 149,600 tons. SHFE inventories were at the highest since July 21.
"It is the monthly futures expiry week in LME. Surplus inventories have been showing up... This might keep metal prices under pressure," said Sandeep Daga, a director at metals analysis company Metal Intelligence Centre.
The dollar might strengthen amid expectations of higher-for-longer U.S. rates, which would add more pressure to metal prices, Daga said.
A firm dollar makes greenback-priced metals more expensive to holders of other currencies.
LME aluminium CMAL3 edged up 0.4 per cent to $2,223.50 a ton, nickel CMNI3 rose 1 per cent to $20,125, lead CMPB3 increased 0.1 per cent to $2,222.50, zinc CMZN3 fell 0.3 per cent to $2,491 and tin CMSN3 eased 0.4% to $26,000.
© 2026 - All Rights with The Financial Express
