Copper Rises 1% in London as AI Demand Optimism Offsets US-Iran Strikes
Updated
Updated · Bloomberg · Jul 9
Copper Rises 1% in London as AI Demand Optimism Offsets US-Iran Strikes
3 articles · Updated · Bloomberg · Jul 9
Summary
Copper climbed as much as 1% in London, snapping a two-day slide even after fresh US strikes on Iran rattled markets a day earlier.
AI-driven power demand underpinned the rebound, with traders betting new data centers will lift long-term copper use in wiring and renewable-energy infrastructure.
Asian equities led by semiconductor shares also advanced, reinforcing the shift back toward risk assets and helping copper recover part of the previous session's larger loss.
The move highlights how longer-term technology demand is currently outweighing immediate geopolitical stress in industrial metals trading.