Copper prices steady as key economic data from China and the US awaits

Copper traded on the London Metal Exchange on Wednesday near its highest levels in about three weeks, as investors awaited key economic data from the United States and China in the coming days.

According to Bloomberg News, copper moved in a narrow range, after rising more than 1% yesterday, as US inflation data reinforced expectations that the Federal Reserve will cut interest rates at its regular meeting next month.

Industrial metals performed relatively well in August, supported in part by a weaker dollar. Copper, zinc, and aluminum prices have risen more than 2% so far, shrugging off speculation of a price decline after US President Donald Trump refrained from imposing comprehensive tariffs on copper.