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Copper falls, heads for weekly dip as Mideast tensions weigh on demand outlook
Copper prices fell on Friday, tracking equity markets lower as escalating tensions in the Middle East war spurred inflation concerns and cast a shadow over the demand outlook for industrial metals. Benchmark three-month copper on the London Metal Exchange was down 1.3% at $13,419.50 a metric ton as of 0930 GMT, after edging up 0.1% on Thursday. The metal widely used in power, construction and manufacturing was on course to end the week down 0.5%. The escalation in fighting between the U.S. and Iran has disrupted shipments through the Strait of Hormuz, leaving oil prices up 12.7% so far this week and increasing fuel ... (full story)
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From tickmill.com | 8 hr ago
Copper Sinking on Friday Copper prices are falling sharply on Friday with the futures market gapping lower today and now down around 2% from yesterday’s close. The move comes amidst a fresh uptick in USD as focus reverts back to the re-escalation of the US/Iran war and the renewed inflation implications linked to the conflict. With oil prices surging higher ...
From dailyforex.com | 10 hr ago
Copper rose initially at the open on Thursday, only to turn things around. This is still a market that is bullish in the longer term, though. Copper initially tried to rally during the trading session on Thursday but gave back gains at the $6.40 level as interest rates continue to climb in the United States. That can work against commodities and metals in ...
Trump claims the U.S. is "winning big" in Iran and says the outcomes of ongoing efforts will become clear shortly.
