According to CoinMeta, traders downplayed the hawkish signals released by the Federal Reserve chairman, and copper prices stabilized. Despite the strengthening of the US dollar, the price of copper futures on the London Metal Exchange (LME) did not change much. Federal Reserve officials expect to raise interest rates again later this year, which could put pressure on non-yielding assets such as copper. Previously, driven by expectations that the United States might impose tariffs on refined copper, copper prices soared and reached record highs. Currently, copper prices are in a phase of high-level consolidation. Those tariff expectations led to a large influx of copper into US inventories, sparking concerns about potential supply shortages in other regions. To date, the United States has not introduced new trade measures, which casts uncertainty over the previous upward trend. However, demand prospects in the data center and renewable energy sectors, as well as supply disruptions at major mines, continue to support copper prices. Sam Crittenden, an analyst at Royal Bank of Canada's capital markets department, stated in a report: "The news that the United States will not impose tariffs on copper has cooled down some speculative trading in the physical market. Although prices have weakened in the short term, the fundamentals remain positive."