-
Copper slips on doubts about US-Iran ceasefire
Copper prices slipped on Thursday as doubts about whether the U.S.-Iran ceasefire would hold reinforced concerns about global growth and demand for industrial metals, traders said. Benchmark copper on the London Metal Exchange was down 0.9% at $12,586 a metric ton at 0918 GMT. Prices of the metal used in power and construction hit a three-week high at $12,755.50 on Wednesday after news of the two-week ceasefire agreement in the Middle East sparked optimism that shipments through the Strait of Hormuz might soon resume. Elevated oil prices are also expected to dampen growth by fuelling inflation and squeezing ... (full story)