铜价在两周收盘高位附近徘徊，交易员正为美联储的利率决定做准备。
Copper traded near its highest close in two weeks as traders braced for the Federal Reserve’s decision on interest rates.
周三上海时间下午1点25分，伦敦金属交易所铜价下滑0.2%，报每吨14,447.50美元。周二价格曾上涨逾1%，当时在人工智能题材重燃乐观情绪以及供应紧张迹象的推动下，金属板块整体大幅上扬。
The metal slipped 0.2% to $14,447.50 a ton on the London Metal Exchange at 1:25 p.m. in Shanghai. Prices climbed more than 1% on Tuesday amid a broader surge for metals fueled by renewed positive sentiment on artificial intelligence, as well as signs of supply pressure.
美联储将于周三晚些时候召开政策会议，市场关注点在于美国央行对经济和通胀前景将释放何种信号。官员们普遍预计本次会议将维持利率不变，但市场已为12月加息定价。更高的借贷成本可能对金属构成利空。
At the Fed’s policy meeting later on Wednesday, the focus will be on what the US central bank says about the outlook for the economy and inflation. Officials are seen likely to leave rates unchanged at this gathering, but a hike in December is being priced in. Higher borrowing costs can be a headwind for metals.
今年以来铜价累计上涨约16%，这轮上涨由供应紧张驱动，因预期进口关税，大量铜被运往美国。周三，伦敦金属交易所一个关键价差飙升，显示短期供应压力加剧。
Copper has gained about 16% this year in a rally powered by supply tightness as huge tonnages were shipped to the US in anticipation of import tariffs. On Wednesday, a key spread on the LME spiked higher, indicating more short-term supply stress.
“随着年底临近，美国对精炼铜的关税政策可能引发显著市场波动，这些政策最终落地很可能会推动价格走势，”中国券商混沌天成期货有限公司在研报中写道。其他金属表现不一，铝上涨0.4%，锌和镍基本持平。
“As the year-end approaches, US tariff policies on refined copper could generate significant market volatility, with the eventual implementation of these policies likely to drive price trends,” Chinese brokerage Chaos Ternary Futures Co. wrote in a note. Other metals were mixed, with aluminum gaining 0.4% and zinc and nickel little changed.