While the U.S. Federal Reserve is expected to cut its benchmark Federal Funds target rate to a record-low 0.5% at its policymaking Federal Open Market Committee meeting tomorrow (Tuesday), the European Central Bank (ECB) is signaling a reluctance to drop its key rate below 2.0%.

The base metals were mixed on Wednesday. Copper traded within a tight 4-cent range through the day, finishing near the lower end at $1.5875/lb., down a penny and a quarter.