Copper closes Tuesday at $14,040.50 after US strikes, Iran attacks
Business
Copper prices closed at $14,040.50 on Tuesday after a short-lived rally earlier in the week.
The drop came as US strikes on Qeshm Island and Iranian attacks on Kuwait rattled markets, with worries about possible interest rate hikes and rising US copper stockpiles adding to the pressure.
Persian Gulf strikes keep aluminum high
Unlike copper, aluminum prices barely budged and are still near a four-year high, mainly because strikes at Persian Gulf producers have disrupted supply.
Traders are also eyeing a potential new US tariff that could shake up global metal trade.
On the London Metal Exchange, copper dipped 0.4%, nickel fell 0.5%, but aluminum stayed flat at $3,756 per ton, showing just how differently each metal is reacting right now.