Copper prices rise as investors assess Fed decisions and market developments

Copper prices rose on Thursday as the dollar fell against most  major rivals, with the metal extending its recent streak of gains while markets assess the economic impact of the Federal Reserve's recent rate hike. 

Copper futures due in three months at the London Exchange fell 0.2% to $8,874.

The Federal Open Market Committee hiked interest rates by another 0.25% on Wednesday as expected. 

Fed Chair Jerome Powell warned that the banking troubles could lead to a crediting crisis with a large impact on the US economy.

The dollar fell on Thursday, boosting dollar-denominated metals futures. 

Copper May futures at the Shanghai exchange rose 0.5% to $9,982 a tone. 

Copper demand is improving in China as seasonal demand rebounds while the economy overall improves. 

The ICSG organization estimates the refined copper market to have been in a surplus of 103 thousand tones in January, compared to a surplus of 10 thousand tones in February.

The dollar index fell 0.1% to 102.2, with a session-high at 102.5, and a low at 101.9.

Copper futures due in May rose 1.7% as of 14:57 GMT to $4.11 a pound.