Copper hits 1-week high

Copper prices edged higher to hit a one-week high on Tuesday following a three-day weekend in London, though trading was thin as the Shanghai Futures Exchange remained shut for a national holiday.

While top metals consumer China’s financial markets will remain closed until Wednesday, the focus is on whether the U.S. Federal Reserve will indicate that it expects a pause in interest rate increases, after a widely expected hike of 25 basis points to be delivered this week.

Three-month copper on the London Metal Exchange was up 0.7% at $8,655 a tonne, as of 0215 GMT, having reached $8,714 earlier in the session, its strongest since April 25.

London-listed company KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.

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