Melbourne: London copper trading was little changed on Wednesday, as volumes thinned throughout the complex in the lead-up to holidays and ahead of a U.S. monetary policy meeting which may spell out higher interest rates. "Price action is likely to remain subdued as traders look ahead to key events later this week," ANZ said in a report.
London Metal Exchange copper was up 0.2 percent at $6,675.50 a tonne, as of 0534 GMT, having closed little changed in the previous session.
Prices have found a base around $6,500, but have run into resistance at the 100-day moving average around $6,690. Volumes were light with less than 1000 lots of turnover on the benchmark contract. Shanghai Futures Exchange copper rose by half a percent to 52,180 yuan ($7,881) a tonne.
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