Copper prices resumed their rise today, recording gains of 0.8% to reach $11,582 per ton, recovering most of the losses from the previous session. This increase is driven by traders' expectations of a third consecutive interest rate cut by the US Federal Reserve, according to Bloomberg.
This rise comes amid an increase in other industrial metals, as investors anticipate a quarter-point rate cut later today, with money markets pricing in two additional cuts in 2026. Markets will be looking for signals regarding monetary policy in the world's largest economy for the upcoming year.
This recovery reflects investor confidence in the impact of US monetary policy on global copper demand, which is a key indicator of economic growth, amid expectations of boosted industrial activity with lower borrowing costs.