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Copper and aluminum prices climb as rate hike prospects fade

Copper and aluminum prices climb as rate hike prospects fade

Copper prices have risen for the third consecutive session, with three-month contracts on the London Metal Exchange increasing by 0.3%. This marks a recovery after two weeks of losses, amid declining expectations of a rate hike by the Federal Reserve following comments from its chairman about reduced inflation risks. Aluminum also saw a gain of 0.5%, supported by expectations of renewed supply from the Middle East, while central banks continued to buy gold aggressively despite the pressure from interest rate concerns.

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