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Copper climbs on Gulf de-escalation hopes, softer dollar
Copper rebounded on Thursday as the market hoped for another de-escalation in hostilities in the Gulf and the dollar dipped after its recent surge. Benchmark three-month copper on the London Metal Exchange was up 2.1% at $13,437 a metric ton as of 0920 GMT. The metal had dropped 1.5% on Wednesday on demand concerns after U.S. President Donald Trump said the memorandum of understanding with Iran to end the Gulf conflict was “over.” Trump has since said Tehran wants to “make a deal so badly” and that he did not expect a return to full-fledged war, even as the two countries traded attacks. “The bounce can only ... (full story)
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U.S. President Donald Trump said Wednesday evening that he does not know whether Washington and Iran are returning to a full-fledged war, but told reporters that Iran “badly” wants to make a deal to cease escalating hostilities in the Middle East. Trump flew back to Washington, DC, via the U.K. on Wednesday. Speaking to reporters on board Air Force One as ...
From tickmill.com | 5 hr ago
Copper prices are rising firmly today with the futures market up around 1.7% through early European trading. The move higher comes amidst the pullback in oil prices today following Trump posting overnight that Iran is seeking a new agreement following his declaration yesterday that the ceasefire was now over. Trump made the statement following a series of ...
