Strong Dollar Weighs on Copper Prices as Rate Cut Hopes Grow
Last week saw the price of copper drop slightly, pressured by increasing expectations of a reduction in interest rates by the Federal Reserve and a firmer dollar. On the London Metal Exchange, three-month copper hit $10,780.50 per metric ton, representing a 0.2% increase. According to CME FedWatch, markets now price a 78% chance of a 25-basis point reduction in rates this month. This is quite an increase from the 41% probability recorded a week earlier. The red metal’s prices are expected to increase in 2026, pointing to ongoing supply challenges caused by repeated mine disruptions and long-term demand from clean-energy…