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Copper leaps to three-week high on US-Iran ceasefire
Copper jumped to a three-week high on Wednesday after U.S. President Donald Trump agreed to a two-week ceasefire with Iran, easing fears of a global economic slowdown as a result of the Middle East conflict. Benchmark three-month copper on the London Metal Exchange was up 3.5% at $12,737.50 a metric ton by 0920 GMT after touching its highest since March 18 at $12,755.50. Copper fell by 7.6% in March on economic fears sparked by the Iran war. The ceasefire is subject to Iran's agreement to pause its blockade of oil and gas passing through the Strait of Hormuz, Trump said. Crude oil prices fell more than 16% ... (full story)