Copper Holds Monday Gains as Iran-Israel Truce Eases Oil-Inflation Fears
Updated
Updated · Bloomberg · Jun 9
Copper Holds Monday Gains as Iran-Israel Truce Eases Oil-Inflation Fears
3 articles · Updated · Bloomberg · Jun 9
Summary
Copper steadied after rebounding Monday, with traders keeping recent gains as markets awaited fresh China trade data.
Iran and Israel agreed to halt strikes against each other, easing fears that wider conflict would lift oil prices and reignite inflation pressure.
That shift also reduced concern that central banks could face higher-for-longer interest rates, a backdrop that would weigh on global growth and industrial metals demand.
China remains the key near-term demand signal because it is the world's biggest copper consumer, making its trade figures the next test for prices.