Copper Price Volatility Ahead of Inflation Data and Fed Chair Speech

The copper price remains volatile as investors weigh in on various market drivers ahead of key economic indicators.

US imports surged in July, reaching over 200,000 tonnes, the highest monthly import in 12 years, adding to the bullish outlook. However, rising inventories and persistent economic uncertainties have curbed gains.

The US dollar's bounce off its three-month low ahead of July's PCE price index has eased bets on a September interest rate hike, supporting copper and other dollar-priced assets. The Fed Chair's speech will also be closely watched for cues on market sentiment.