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[Fed Rate Cuts Push Copper Prices Near Historic Highs, Up Over 30% This Year] The Federal Reserve announced a rate cut and maintained expectations for further cuts next year, pushing copper prices near historic highs. LME copper prices briefly rose 1.5% before giving up more than half of the gains. Driven by easing policies, industrial metals have recently surged, with copper prices up over 30% this year. Concerns over mine shutdowns, supply shortages, and traders rushing to buy ahead of potential tariffs have boosted copper prices. Long-term support for copper prices will come from growing demand for renewable energy.