Key insights
- Copper prices are up due to supply concerns, offsetting demand worries related to geopolitical uncertainty. This bullish trend, if sustained, could signal broader inflationary pressures and positive sentiment towards global economic activity, potentially benefiting US equities, particularly materials and industrials sectors.
Investing.com - Copper prices rose to their highest level in more than three months on Monday as supply shortage concerns outweighed demand worries stemming from the stalemate in the Iran war.
Benchmark three-month copper on the London Metal Exchange gained 1.3% to $13,573 a metric ton by 1030 GMT, reaching its strongest level since January 29.
The metal was on track to post its sixth consecutive session of gains, marking the longest bullish run since December.
Copper has gained approximately 10% so far this year.
The metal’s price still remains well below the peak reached in January.
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