Copper Extends Retreat as Trump Renews Iran Threats and Weak China Data Darken Demand
Updated
Updated · Bloomberg · May 18
Copper Extends Retreat as Trump Renews Iran Threats and Weak China Data Darken Demand
3 articles · Updated · Bloomberg · May 18
Copper extended its decline as investors pulled back from industrial commodities amid rising inflation fears tied to the Iran war.
Trump's renewed threats against Iran, with Washington and Tehran still far from a deal to reopen the Strait of Hormuz, pushed oil prices higher and sharpened concern that central banks may keep tightening.
Weaker-than-expected Chinese data added to the pressure by reinforcing worries about softer manufacturing demand in the world's biggest metals consumer.
The combined hit from higher energy costs, tighter-policy expectations and weaker China signals points to slower global growth and weaker near-term demand for metals.
With China's demand faltering, can the green energy transition alone prevent a broader collapse in commodity markets?
As the Iran war's cost spirals, what is the ultimate economic price for global stability and growth?
Beyond oil, is the global internet the next hostage in the Strait of Hormuz crisis?