Copper Prices Rally as Fed Rate Hikes Ease and China's Demand Grows

Copper prices are on a rally as optimism for an end to the Federal Reserve's rate hikes and decreasing borrowing costs drive the market. The market for mined copper is seen tightening, but concerns about oversupply in the short term persist. Copper prices fluctuated as top industry executives gathered in Shanghai for Asia Copper Week, amidst strong demand growth in China and uncertainty over global supply outlook. Iron ore prices dropped due to weakness in China's property market and reduced construction activity, raising concerns about the country's recovery. Copper prices remain subdued due to a strong U.S. dollar and concerns about the economic recovery in China.