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Copper hits fresh high on fund buying despite fading Iran peace hopes
Copper prices edged to a three-month peak on Tuesday as funds bet on further gains due to supply issues and bullish technical signals, largely ignoring worries about the lack of progress in ending the Iran war. Benchmark three-month copper on the London Metal Exchange was up 0.6percent at USD14,023.50 a metric ton by 1410 GMT, its highest in more than three months and after posting a record close on Monday. Hopes for a peace deal on Iran faded on Tuesday after US President Donald Trump said the ceasefire with Iran was “on life support.” “Metals paused overnight and drifted amid that macro weight,” said ... (full story)
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