Copper Holds Firm on US-Iran Deal Hopes

2026-04-14 04:18 By Jam Kaimo Samonte 1 min. read

Copper futures traded near $6 per pound on Tuesday, hovering around six-week highs as the US and Iran signaled readiness to resume negotiations aimed at securing a longer-term ceasefire before the current two-week truce expires.

President Donald Trump said Tehran had reached out to Washington just hours after the US launched a naval blockade on Iranian oil shipments in the Strait of Hormuz.

Oil prices eased on expectations of a potential agreement, helping reduce inflationary and growth concerns that have recently pressured industrial metals markets.

In Chile, the new government is seeking to accelerate copper output beyond earlier projections by streamlining permitting processes and implementing regulatory reforms.

In corporate developments, Chilean miner Antofagasta Plc is also exploring early-stage opportunities in Argentina amid broader policy shifts.



News Stream
Copper Holds Firm on US-Iran Deal Hopes
Copper futures traded near $6 per pound on Tuesday, hovering around six-week highs as the US and Iran signaled readiness to resume negotiations aimed at securing a longer-term ceasefire before the current two-week truce expires. President Donald Trump said Tehran had reached out to Washington just hours after the US launched a naval blockade on Iranian oil shipments in the Strait of Hormuz. Oil prices eased on expectations of a potential agreement, helping reduce inflationary and growth concerns that have recently pressured industrial metals markets. In Chile, the new government is seeking to accelerate copper output beyond earlier projections by streamlining permitting processes and implementing regulatory reforms. In corporate developments, Chilean miner Antofagasta Plc is also exploring early-stage opportunities in Argentina amid broader policy shifts.
2026-04-14
Copper Drops on US Hormuz Blockade
Copper futures fell more than 1% to below $5.8 per pound on Monday, trimming last week’s gains after President Donald Trump announced plans to blockade the Strait of Hormuz following the failure of US-Iran negotiations over the weekend, adding fresh uncertainty to metals markets. Talks in Pakistan ended without a deal as the US accused Iran of refusing to abandon its nuclear ambitions, while Tehran reportedly demanded control of the Strait of Hormuz, war reparations, a regional ceasefire, and access to frozen overseas assets. The prolonged Middle East conflict, which has driven energy prices sharply higher, weighed on the outlook for global growth and industrial activity. Copper was also pressured by rising inventories, with stockpiles in LME warehouses climbing to an eight-year high, signaling weaker demand conditions.
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Copper Hits 4-week High
Copper increased to 5.81 USD/Lbs, the highest since March 2026. Over the past 4 weeks, Copper lost 0.67%, and in the last 12 months, it increased 28%.
2026-04-10