Copper prices firmed on Wednesday as investors factored in expectations of the first interest rate cut from the U.S. Federal Reserve in more than four years.

Fed rate cuts would help to boost economic activity and demand and weigh on the U.S currency, making dollar-priced metals cheaper for holders of other currencies.

Three-month copper on the London Metal Exchange was up 1.2% at $9,135 per metric ton during official rings.

Base metals and gold are likely to be buoyed in the next few days ahead of the rate decision on Sept. 18, said Tom Price, head of commodities strategy at Panmure Liberum.

Investors awaited a U.S. inflation report, due later in the day, for more clues on the rate outlook.

The market currently expects the U.S. central bank to trim interest rates by 25 basis points at each of the three remaining policy meetings in 2024, a Reuters' poll of economists showed on Wednesday.

The dollar eased from a one-week high, making greenback-priced metals cheaper for holders of other currencies.

"Copper will remain bound in the range of high $8,000s to mid-$9,000s, unless we see a very bearish economic indicator from China," Price said.

Demand from China, the world's biggest copper buyer, slowed in August. The country imported 415,000 tons of copper last month, down 12.3% from a year ago, customs said on Tuesday.

China's commodities sentiment has been battered by a deepening selloff in the stock market, Australian bank ANZ analysts said in a note.

The country's equities market slid to its lowest in seven months.

LME nickel added 1.3% to $15,950 a ton, lead climbed 2% to $1,995.5, aluminium rose 1.2% to $2,364, tin moved 1.8% higher to $31,100, while zinc rose 2.4% to $2,776.5.

(Reporting by Julian Luk in London; Editing by Mrigank Dhaniwala and Emelia Sithole-Matarise)