Copper slips from near two-month top ahead of Fed

MELBOURNE: London copper eased on Tuesday from near a two-month high ahead of the US Federal Reserve's interest rate decision due later in the week, while China zinc prices slumped towards seven-month lows alongside falling steel.

The US Federal Reserve is widely expected to raise its benchmark interest rate this week due to a tightening labour market and may also provide more detail on its plans to shrink the mammoth bond portfolio it amassed to nurse the economic recovery.

Rising interest rates are expected to shore up the dollar, making dollar-based commodities more expensive for holders of other currencies and dampening demand.