Copper Prices Hold Steady Ahead of Fed Rate Decision

Copper prices remained relatively stable on September 15, ahead of the Federal Reserve's decision on interest rates. The market is closely watching inventory levels and time spreads, which have flipped to a contango situation where three-month futures trade $62.53 a ton above immediate delivery.

This shift from backwardation in recent weeks suggests comfortable supply levels, but the Fed's expected rate hike could still weigh on non-yielding assets like commodities.

Nickel prices, meanwhile, slipped 0.7% to their lowest level this year, while Singapore iron ore eased 0.1% to $95.35 a ton.