Copper Strengthens as Risk Appetite Returns

2026-05-21 04:14 By Jam Kaimo Samonte 1 min. read

Copper futures traded around $6.28 per pound on Thursday after rising 2% in the previous session, supported by improving global risk appetite amid renewed optimism over a potential peace agreement between the US and Iran.

President Trump said the US was in the final stages of negotiations with Iran, fueling hopes that the Strait of Hormuz could soon reopen.

The prospect of restored shipping flows triggered a sharp decline in oil prices, helping ease inflationary pressures and reducing concerns about further interest rate hikes.

Copper prices also drew support from a rally in artificial intelligence-related technology stocks, which strengthened expectations for demand tied to data infrastructure development.

In corporate news, Codelco is targeting roughly $2 billion in cost reductions and additional revenue through the integration of operations across three copper mines, as the company seeks to counter the effects of stagnant production and rising debt levels.



News Stream
Copper Strengthens as Risk Appetite Returns
Copper futures traded around $6.28 per pound on Thursday after rising 2% in the previous session, supported by improving global risk appetite amid renewed optimism over a potential peace agreement between the US and Iran. President Trump said the US was in the final stages of negotiations with Iran, fueling hopes that the Strait of Hormuz could soon reopen. The prospect of restored shipping flows triggered a sharp decline in oil prices, helping ease inflationary pressures and reducing concerns about further interest rate hikes. Copper prices also drew support from a rally in artificial intelligence-related technology stocks, which strengthened expectations for demand tied to data infrastructure development. In corporate news, Codelco is targeting roughly $2 billion in cost reductions and additional revenue through the integration of operations across three copper mines, as the company seeks to counter the effects of stagnant production and rising debt levels.
2026-05-21
Copper is down by 2.05%
Copper decreased 2.05% to 6.1434 USD/Lbs
2026-05-19
Copper Declines Amid Risk-Off Mood
Copper futures fell to around $6.1 per pound on Wednesday, reaching their lowest levels in nearly two weeks as a broader selloff in equities fueled risk-averse sentiment amid escalating uncertainty in the Middle East. President Donald Trump warned that the US could resume strikes on Iran within “two or three days” if Tehran failed to agree to Washington’s peace terms. The prolonged conflict has effectively kept the crucial Strait of Hormuz closed to shipping, driving oil prices higher and intensifying inflationary pressures, while raising the odds for central bank interest rate hikes. Higher borrowing costs are seen weighing on global economic growth and manufacturing activity, adding pressure to the outlook for industrial metals demand. Sentiment was further hurt by fresh signs of weakness in top consumer China’s economy, as retail sales and industrial production both fell short of expectations, while fixed asset investment unexpectedly contracted.
2026-05-19