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HANOI- London copper inched higher on Wednesday after tumbling to a seven-week low in the previous session, although prices were pressured by fears of US policy tightening amid rising inflation.
Three-month copper on the London Metal Exchange rose 0.2 percent to $9,592 a ton, while the most-traded July copper contract on the Shanghai Futures Exchange fell 1.6 percent to 69,170 yuan ($10,801.57) a ton, tracking an overnight drop in London.
Data released this week showed stronger US inflation and weaker retail sales in May, and investors are now awaiting the outcome of the Federal Reserve’s policy meeting due later in the day. – Reuters
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