Copper Prices Slump Amid Tighter Monetary Policy Concerns

Copper prices fell on Wednesday as investors remained concerned about tighter monetary policy ahead of the US Federal Reserve's meeting.

The benchmark three-month copper price on the London Metal Exchange dropped by 0.28% to $13,647 a metric ton at 0300 GMT.

Demand worries and a strong dollar were also contributing factors to the decline in copper prices.

As rates are expected to remain steady or potentially increase in September, high interest rates could weigh on demand expectations for growth-dependent commodities like copper.