Copper Hits Fresh All-Time High After Fed Delivers Rate Cut

Core Insights - Copper prices reached a record high of $11,906 per ton, driven by a Federal Reserve interest rate cut and an upgraded growth forecast for the US economy [2][3] - The Fed's new growth projection for the US economy is 2.3% for next year, an increase from the previous estimate of 1.8%, with inflation expected to slow to 2.4% [3] - The positive outlook for the US economy is expected to enhance demand for industrial metals, despite a recent decline in Chinese copper consumption [4] Industry Summary - Copper has increased nearly 35% this year, influenced by mine disruptions and anticipated shortages outside the US, as traders prepare for potential tariffs [5] - The renewable energy sector is driving long-term demand for copper, contributing to its price rally [5] - Other industrial metals also saw price increases, with tin rising 4.4% to $41,751 per ton and zinc jumping 3.9% [5]