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2026-05-25 17:23:49
[Copper Prices Surge, Dollar and Oil Prices Both Under Pressure; Peace Expectations Reshape Metals Logic] ⑴ Copper prices rose on Monday, boosted by expectations of a potential peace agreement between the US and Iran. The LME three-month copper contract rose 0.90% to $13,635 per tonne, while the Shanghai Futures Exchange's most active copper contract rose 1.1% to 105,650 yuan per tonne. ⑵ ANZ analysts pointed out that positive news regarding the conflict boosted market sentiment for industrial metals. Base metals are currently caught in a pincer movement: short-term demand is under pressure due to slowing economic growth, while simultaneously being supported by supply disruptions in the Middle East. ⑶ Market expectations that the US and Iran will reach an agreement to reopen the Strait of Hormuz pushed oil prices below $100 per barrel, and the dollar index fell 0.2%, making dollar-denominated commodities cheaper for investors holding other currencies. ⑷ Expectations of a peace agreement eased concerns about inflation and a global economic slowdown, supporting copper as a bellwether for global economic health. LME data on Friday showed that available copper inventories had fallen to 275,525 tons, a ten-week low.
