Copper Prices Rise for Second Consecutive Week as Market Downplays Iran Conflict Impact
Taylor Wilson
LME copper hit $13,519 a tonne, up about 1% for a second consecutive week, as investors quickly absorbed the mid-week U.S.–Iran flare-up and turned to U.S. economic data for Fed rate clues.
How much has copper gained?
As of 9:50 a.m. Singapore time, LME copper rose 0.2% to $13,519 per tonne.
The weekly gain stands at roughly 1% — the second straight week of advances.
This means → buying interest is outweighing geopolitical anxiety for now.
Why didn't the U.S.–Iran strikes knock copper lower?
Mid-week U.S. strikes on Iran triggered a brief sell-off, but copper snapped back alongside other risk assets.
A U.S. official said technical-level talks continued after two days of fire, seeking a permanent resolution to the months-long standoff.
In plain terms = shots were fired, but negotiations never broke off — the market is betting this stays short of full-scale war.
What would a wider war mean for copper?
The key chokepoint is the Strait of Hormuz — the throat of global energy shipping.
Full-scale conflict → energy supply disruption → slower growth → weaker demand for industrial commodities.
Copper is widely seen as a barometer of global economic health — its uses span construction, electronics, and power grids — making it especially sensitive to growth risks.
What is the market watching next?
Later Friday, U.S. economic data will land, giving traders fresh signals on the Fed's rate path.
This means → higher rates raise the opportunity cost of holding non-yielding commodities like copper, potentially capping demand.
Other metals diverged: aluminium up 0.4%, tin down 0.4%.
Content is for reference only, not financial advice.