Commodities fall as Federal Reserve decides against fiscal stimulus


A range of primary commodities saw price falls following a couple of weeks of stability as the US Federal Reserve announced it was less likely to use more fiscal stimulus.

Notes from its 13 March policy meeting were released overnight, and showed that amid more positive economic data, it was likely to refrain from any more stimulus measures for the US economy.

As a result, the price of three-month copper on the LME fell 1.4 per cent to $8,491 (£5,374) from $8,615 at close on Tuesday.

Aluminium also fell 0.82 per cent to $2,107 (£1,334) while lead was down 2.13 per cent to $2,026 (£1,282).

The price of Brent Crude oil dropped 40 cents to $124.46, while US oil lost 79 cent to $103.22.

The S&P GSCI gauge of 24 commodities fell 0.7 per cent.