METALS-Copper hovers near 6-week highs as markets await the Fed

July 28 (Reuters) - Copper prices sat near six-week highs on Wednesday as investors waited for details from a Federal Reserve meeting that could shift expectations for U.S. monetary policy.

Wider markets, meanwhile, calmed after days of turmoil emanating from China, with global stock markets, the dollar and the yuan steadying.

Benchmark copper on the London Metal Exchange (LME) was down 0.4% at $9,719 a tonne in official trading after reaching $9,924 on Tuesday, its highest since June 15.

Used in power and construction, copper rose to a record high of $10,747.50 in May. It is up around 25% this year after rising 26% in 2020, with some analysts saying strong demand and tight supply could push prices still higher.