Copper prices retreated from multi-week highs on Thursday on stalled U.S.-Iran peace talks, continued closure of the Strait of Hormuz and a stronger dollar. Benchmark three-month copper on the London Metal Exchange dropped 1.4% to $13,243 a metric ton by 0940 GMT after touching its strongest since February 27 at $13,481.50. There have been no signs of a resumption in peace talks between the U.S. and Iran while Iran has tightened its grip on the Strait of Hormuz, sending oil prices above $100 a barrel. “With the Strait of Hormuz still at a standstill and the blockade impeding fresh talks between Iran and the U.S., the ... (full story)