Copper futures slide over 1% as Fed minutes dampen demand.
Bob Iaccino analyzes the latest price action in Copper futures, noting a drop of over 1% following an initial overnight spike. Iaccino discusses how tighter Fed policy and the prospect of a December rate hike are limiting investor appetite for metals, as the market digests recent hawkish Fed minutes. While physical demand out of China showed early signs of strength—highlighted by the Yangshan premium reaching its highest level since November 2022—Iaccino explains that this support is fading under broader economic pressures as copper consolidates below last month's record highs.
Bob Iaccino analyzes the latest price action in Copper futures, noting a drop of over 1% following an initial overnight spike. Iaccino discusses how tighter Fed policy and the prospect of a December rate hike are limiting investor appetite for metals, as the market digests recent hawkish Fed minutes. While physical demand out of China showed early signs of strength—highlighted by the Yangshan premium reaching its highest level since November 2022—Iaccino explains that this support is fading under broader economic pressures as copper consolidates below last month's record highs.