Metals Drift Lower With Market Waiting for Delayed US Data

Base metals edged lower as investors waited for a bundle of US economic data that’s been delayed by the government shutdown.

Copper fell for a third session in a row on the London Metal Exchange, falling for a third session in a row. Traders are losing confidence in a December rate cut as Federal Reserve officials show little conviction for reducing borrowing costs. Lower interest rates can benefit commodities like copper by lifting demand and weakening the dollar, making the metal more affordable for buyers in different currencies.