Base Metals Retreat as US-Iran Flare-Up Clouds Industrial Demand Outlook
Updated
Updated · Bloomberg · Jul 13
Base Metals Retreat as US-Iran Flare-Up Clouds Industrial Demand Outlook
3 articles · Updated · Bloomberg · Jul 13
Summary
Base metals fell after renewed US-Iran hostilities darkened the outlook for global growth and demand for industrial commodities.
Higher energy costs and the risk of prolonged Persian Gulf supply disruptions are driving the selloff, with investors worried that fresh inflation pressure could trigger further interest-rate hikes.
US inflation data due this week is now a key near-term test, as traders look for clues on the Federal Reserve's policy path and its impact on metals demand.