Copper slips on euro zone caution, Fed policy eyed

By Harpreet Bhal

LONDON | Wed Jun 20, 2012

Traders and clerks react on the floor of the London Metal Exchange in the City of London February 14, 2012. REUTERS/Luke MacGregor

(Reuters) – Copper fell on Wednesday as concerns about Spain’s debt troubles kept investors cautious, although hopes the Federal Reserve could offer more stimulus for the U.S. economy helped support the outlook for demand and limit falls in base metals.

Three-month copper on the London Metal Exchange (LME) traded at $7,565.50 in official rings, down from Tuesday’s close of $7,609 a tonne.

The metal used in power and construction is down more than 10 percent so far this quarter and is trading 0.3 percent lower for the year to date.

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