Copper prices fell on Thursday as the dollar rose while markets expect the Fed to hold interest rates steady in March.

Copper three-month futures at the London Metals Exchange fell 0.9% to $8532.5 a tonne.

Copper rallied to month highs this week at $8704 before falling back after the bullish Federal Reserve’s policy meeting.

The meeting underpinned the greenback and made dollar-denominated minerals costlier to holders of other currencies.

However, Amalgamet Metal Trading’s analysts said that copper will likely find quick support as investments into China’s electricity network is expanding.

Recent data showed China’s factory activity expanded in January with new orders increasing.

Otherwise, inflation hit mining companies in 2023, raising costs by nearly 40% and forcing some producers to cut output or pause new projects.

Otherwise, aluminum fell 1.1% at the London Metals Exchange fell 1.1% to $2255 a tonne after a 4.4% drop in January.

Zinc fell 1.4% to $2493, while lead fell 0.5% to $2148, as tin fell 1.2% to $25915.

Otherwise, the dollar index stabilized at 103.2 as of 16:21 GMT, with a session-high at 103.8, and a low at 103.2.

Copper March futures fell 1.2% in American trade to $3.86 a pound.