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18.02.202604:30:14UTC+00Copper Rises as Fed Signals Loom

Copper futures climbed to about $5.70 per pound, rebounding from a more than one-week low as prices steadied after recent declines driven by a stronger US dollar. The greenback held firm ahead of the release of minutes from the Federal Reserve’s latest policy meeting, with investors seeking clearer signals on the future path of interest rates.

Upside momentum in copper was capped by rising inventories in exchange-monitored warehouses, which have reached their highest level in nearly 11 months, deepening worries about a near-term oversupply. Analysts warned that reducing these stockpiles could take time, especially over seasonal holiday periods when physical demand typically weakens.

On the supply side, Chilean miner Antofagasta reported a sharp increase in annual core earnings, underpinned by last year’s record-high copper prices.

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