Copper Prices Steady Despite Fed's Hawkish Signals

Copper prices stabilized on Wednesday as traders downplayed hawkish signals from the Federal Reserve, despite an expected interest rate hike.

The metal was little changed after a recent rally that took it to record highs, driven by bets of US tariffs and supply shortages elsewhere in the world.

Although policymakers at the US central bank pencilled in another rate increase later this year, copper's fundamentals remain constructive, according to RBC Capital Markets analyst Sam Crittenden.

Copper is still consolidating after a long run, with expectations of high demand from data centers and renewable energy, as well as supply disruptions at key mines, providing support for the metal.