Copper Prices Fall as Iran Conflict Persists

Copper prices fell by more than 1% to around $5.45 per pound on Thursday, reversing gains from the previous session as conflicting statements between the United States and Iran regarding the possibility of peace negotiations weighed on the metals market.

Washington maintained that negotiations are still ongoing, with the Trump administration reportedly sending a 15-point proposal to Iran through Pakistan aimed at resolving the conflict and reopening the Strait of Hormuz.
However, Iran stated that it has no intention of negotiating with the United States and would reject any ceasefire proposal from Washington, while putting forward its own conditions, including sovereign control over this strategic shipping route.

Disruptions stemming from the conflict in the Middle East, combined with sharply rising energy prices, have heightened concerns about inflation and a slowdown in global industrial activity, thereby clouding the outlook for metals demand.

Source: Trading Economics