Copper Rises to $6,711 Ahead of Fed Meeting

Three-month copper on the London Metal Exchange rose 0.09 percent or $6.04 to trade at $6,711 per tonne on Wednesday, according to Reuters. Investors seem to be focusing on the coming results from the U.S. Federal Reserve meeting before taking definite positions. Changes in the market today are small.

Copper for July delivery on New York’s Comex dropped 0.006 percent or $0.002 to $3.509 per pound on Wednesday, according to Earlier in the day, the red metal hit a high of $3.071 a pound, marking the highest price since June 6. The price of copper is vacillating between small gains and losses as investors await news from the U.S. Federal Reserve’s latest policy meeting.