Copper Hits 10-Day Low as US Inflation Fuels Fed Rate Hike Bets

Benchmark three-month copper on the LME shed 1.2% to $14,314 a metric ton, touching its lowest since October 5. This decline was driven by reduced supply concerns after a deal at Chile's Escondida mine and increased production from Antofagasta. Crucially, stronger-than-expected US consumer prices in September boosted expectations for a Fed rate hike, adding significant downside pressure across metals markets.