Copper trades sideway London copper prices were steady on Tuesday as investors were less concerned the US Federal Reserve would begin changing its accommodative monetary stance.
Copper is often used as a gauge of global economic health and investors were worried a tapering might dampen the recovery in the world’s biggest economy.
Three-month copper on the London Metal Exchange was almost unchanged at $9,272.50 a ton, while the most-traded October copper contract on the Shanghai Futures Exchange rose 1.6 percent to 68,680 yuan ($10,599.26) a ton.
However, tapering is not out of the picture, and investors were eyeing the Fed symposium later this week that could still map out an end to stimulus and asset purchases, preventing further gains in metals.
