Copper Prices Plummet Amid Fed Meeting Uncertainty

Copper futures took a hit on Tuesday, falling below $6.3 per pound as investors grew uncertain ahead of the Federal Reserve's policy decision.

The markets are pricing in a higher-than-usual chance of a rate hike, with better than a one-third chance being priced in.

This level of uncertainty is unusual so close to a Fed meeting compared to recent years, reflecting the current market sentiment.

Copper prices also came under pressure despite President Donald Trump's statement that the US was engaged in 'good talks' with Iran to end the Middle East conflict, which sent oil prices lower and eased concerns over inflation and interest rate hikes.