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

Copper climbed to a fresh record high and most other industrial metals rose, after the Federal Reserve delivered a widely expected interest-rate cut and upgraded its growth forecast for the US economy.

Copper advanced as much as 3% to $11,906 a ton in London, surpassing a peak struck on Monday. The US central bank lowered rates for a third straight meeting, but subtly changed the wording of its statement to hint at greater uncertainty around future reductions as it seeks to support growth while keeping inflation under control.