Copper Hits Two-Month Low on China Demand Angst

COPPER - LONDON. Copper prices hit a two-month low on Wednesday as the dollar climbed after an official said the Federal Reserve should proceed cautiously with further U.S. rate cuts, while weak demand prospects in top consumer China also dominated the mood.

Benchmark copper on the London Metal Exchange (LME) was down 1.3% at $9,026 a metric ton at 1529 GMT, after hitting an earlier session low at $9,019, a drop of more than 7% since the U.S. presidential election last week.