Copper prices reacted strongly to the Fed forecast

Copper is more expensive on the London Metal Exchange in response to the Fed's forecast of three interest rate hikes this year.

Metal in the LME for 3-month supply was valued after the opening of trading at $ 6,841.50 per tonne after rising 0.7%. - provide brokers.

The US Federal Reserve raised its key interest rate by 25 bp. up to 1.50-1.75%. - it was announced on Wednesday after the bank meeting.

Fed bankers are still expecting three interest rate hikes in 2018 and three in 2019, one more than before. GDP and inflation forecasts for the coming years have also been revised upward.

The decision on interest rates was in line with market expectations and was taken unanimously.

Fed information weakened the dollar, which fell 0.9 percent on Wednesday. On Thursday, the US currency is losing 0.1%.

Goldman Sachs analysts' comments are also favorable for copper and other benchmark metals, as they estimate that demand for raw materials in China remains solid, supported by investments in transport infrastructure and new designs planned by the developers.

Copper in the LME increased by $ 38 on Wednesday to $ 6,793 a tonne.