FX.co ★ Copper Rises for 5th Straight Session

Copper futures exceeded $4.46 per pound on Tuesday, marking a fifth consecutive session of growth. This rise in value is driven by increasing investor interest fueled by potential policy changes in the United States. The US Geological Survey has suggested adding copper to its 2025 list of critical minerals, a proposal that could lead to new funding incentives and simplify the processes for exploration, mining, and processing projects. On the corporate front, a US federal appeals court has temporarily halted a land transfer that is essential for Rio Tinto and BHP to develop one of the nation's largest potential copper mines, injecting uncertainty into future supply forecasts. Additionally, copper prices have been bolstered by an optimistic market sentiment, with anticipations of rate cuts by the US Federal Reserve enhancing risk assets. During the Jackson Hole symposium, Fed Chair Jerome Powell indicated that the central bank is inclined to ease monetary policy at its upcoming meeting.