Copper Rises 1.4% as US-Iran Deal Reopens Strait of Hormuz
Updated
Updated · Bloomberg · Jun 15
Copper Rises 1.4% as US-Iran Deal Reopens Strait of Hormuz
2 articles · Updated · Bloomberg · Jun 15
Summary
Copper climbed as much as 1.4% after the US and Iran said they had reached an interim agreement to cease hostilities.
The deal includes reopening the Strait of Hormuz and starting negotiations on Iran’s nuclear program, easing fears that conflict would drag on global growth.
For industrial metals, the truce removes a major downside risk to demand at a time when analysts were already relatively bullish on copper.