World Economy

Copper Stabilizes

Copper StabilizesCopper Stabilizes

Copper steadied on Wednesday as China’s government pledged more economic support, while gains were capped ahead of the outcome of a Federal Reserve meeting where officials are expected to affirm at least one further rate hike is on the cards this year, Reuters reported. Three-month copper on the London Metal Exchange had edged up 0.2% to $4,957 a ton, extending losses from the previous session. Prices have found a floor around the $4,875 mark, while the approaching 200-day moving average ceiling at $5,023 could flag a looming breakout.