According to CoinMeta, traders are assessing the prospects for U.S. interest rates amid fluctuations in oil prices and statements from Federal Reserve officials. On Wednesday, copper prices on the London Metal Exchange fell by 0.8% after six consecutive days of gains. Several Federal Reserve policymakers have expressed concerns about inflation prospects. Bernanke stated on Tuesday that it may take time for the impact of inflation to subside, and other officials also hinted that further policy tightening might be necessary. As expectations of further policy tightening by the Federal Reserve rise, the dollar has strengthened, putting pressure on metals denominated in dollars. Nickel prices fell by 0.3%, giving back some of the 1.9% increase seen on Tuesday. Previously, water shortages related to drought forced smelters at Indonesia's Morowali processing center to cut nickel pig iron production.