Copper prices climbed to a new record high on Thursday after the Federal Reserve cut interest rates and raised the US economic growth forecast in line with widespread market expectations, and most other basic metals also rose. In the London market, copper prices rose 3% to $11,906 per ton, breaking through the high set on Monday. The Federal Reserve cut interest rates for the third time in a row on Wednesday, but minor adjustments were made in the wording of the statement, which suggests that uncertainty about future interest rate cuts has increased at a time when seeking a balance between supporting growth and controlling inflation. Copper prices rose 2.7% to close at $11,872 a tonne on the London Metal Exchange. With the exception of nickel, all other metals on the exchange rose. The price of tin surged 4.4% to 41,751 US dollars per ton, the highest level since April 2022, while the price of zinc jumped 3.9%.

Copper prices climbed to a new record high on Thursday after the Federal Reserve cut interest rates and raised the US economic growth forecast in line with widespread market expectations, and most other basic metals also rose. In the London market, copper prices rose 3% to $11,906 per ton, breaking through the high set on Monday. The Federal Reserve cut interest rates for the third time in a row on Wednesday, but minor adjustments were made in the wording of the statement, which suggests that uncertainty about future interest rate cuts has increased at a time when seeking a balance between supporting growth and controlling inflation. Copper prices rose 2.7% to close at $11,872 a tonne on the London Metal Exchange. With the exception of nickel, all other metals on the exchange rose. The price of tin surged 4.4% to 41,751 US dollars per ton, the highest level since April 2022, while the price of zinc jumped 3.9%.