Copper Prices Steady Ahead of Fed Decision Amid Easing Supply Concerns

Copper prices have steadied ahead of the Federal Reserve's decision on interest rates, as concerns over supply shortages ease.

Futures rose slightly on the London Metal Exchange, extending a small gain from the previous session. However, prices remain down sharply from last week's record high, driven by bets on a US tariff-driven supply squeeze.

Traders have been stockpiling copper in US warehouses, hoping to benefit from tariffs that would increase domestic prices. But so far, the White House has held off on new measures.

The threat of a supply pinch diminished as LME-accredited storage facilities outside the country saw their inventories rise this week.