Copper Holds Steady Despite MidEast Turmoil

2026-03-02 03:53 By Jam Kaimo Samonte 1 min. read

Copper futures were largely unchanged around $6 per pound on Monday, maintaining last week’s gains even as a major escalation in the Middle East conflict rattled financial markets.

The US and Israel carried out strikes on Iran over the weekend, resulting in the death of Iran’s Supreme Leader, Ayatollah Ali Khamenei, and prompting the effective closure of the Strait of Hormuz, a key route for roughly one-fifth of global oil shipments and significant natural gas flows.

Tehran retaliated by targeting US assets across the region, including the United Arab Emirates, Bahrain, Kuwait, Qatar, Saudi Arabia, Jordan, Iraq, and Syria.

Copper prices were supported by expectations that top consumer China will introduce new stimulus measures at this week’s annual “Two Sessions” meeting, which convenes from March 4 to around March 11.

The government is expected to set economic targets, outline policy plans, and release its 15th Five-Year Plan detailing objectives for 2026–2030.



News Stream
Copper Holds Steady Despite MidEast Turmoil
Copper futures were largely unchanged around $6 per pound on Monday, maintaining last week’s gains even as a major escalation in the Middle East conflict rattled financial markets. The US and Israel carried out strikes on Iran over the weekend, resulting in the death of Iran’s Supreme Leader, Ayatollah Ali Khamenei, and prompting the effective closure of the Strait of Hormuz, a key route for roughly one-fifth of global oil shipments and significant natural gas flows. Tehran retaliated by targeting US assets across the region, including the United Arab Emirates, Bahrain, Kuwait, Qatar, Saudi Arabia, Jordan, Iraq, and Syria. Copper prices were supported by expectations that top consumer China will introduce new stimulus measures at this week’s annual “Two Sessions” meeting, which convenes from March 4 to around March 11. The government is expected to set economic targets, outline policy plans, and release its 15th Five-Year Plan detailing objectives for 2026–2030.
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Copper futures held near $6 per pound on Friday, poised for a second consecutive weekly gain, as investors awaited key demand signals from China’s upcoming parliamentary meeting. The annual “Two Sessions” will run from March 4 to around March 11, during which the government is also set to release its 15th Five-Year Plan, outlining policy priorities for 2026-2030. Chinese buyers have largely stayed on the sidelines since returning from the week-long Lunar New Year holiday, with some importers delaying purchases amid elevated prices. Many domestic fabricators are not expected to fully resume operations until early next month. Copper inventories in exchange-monitored warehouses also rose to record highs in late January, influenced by US trade policy shifts and mine disruptions.
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