Wednesday, 19 June 2013 14:05
Posted by Shoaib-ur-Rehman Siddiqui
SINGAPORE: London copper hovered near its lowest since early May on Wednesday, as investors looked to a Federal Reserve meeting for clues on the outlook for a US stimulus programme that has underpinned commodity prices.All eyes are on the two-day Fed meeting which ends on Wednesday with a policy statement and a news conference by Chairman Ben Bernanke, who said in May that stimulus could be scaled back if the economy gains momentum."Our view is that Bernanke is not going to deviate too much from what they have said previously," said Victor Thianpiriya, commodities strategist at ANZ in Singapore. "He is likely to reiterate that any changes in the pace of their asset purchases will be data dependent."Three-month copper on the London Metal Exchange rose 0.1 percent to $7,013.25 a tonne by 0711 GMT, after falling on Tuesday to its lowest since May 3 at $6,965.The most-traded copper contract on ...