Copper Rises 0.7% as Traders Eye Hormuz Talks and Fed Outlook
Copper rose 0.7% to $13,375 per ton, trimming its monthly loss to 1.9%, as traders focus on U.S.-Iran peace talks in Doha and the Federal Reserve's interest rate outlook.
Copper advanced 0.7% to $13,375 per ton, reducing its monthly decline to 1.9%. The move comes as market participants closely monitor U.S.-Iran peace negotiations in Doha and assess the Fed’s next policy steps.
A hawkish Fed and a stronger U.S. dollar continue to weigh on base metals. Meanwhile, aluminum fell 16% in the month—its steepest drop since 2008—as Middle East supply fears eased and record Chinese exports alongside improving alumina supplies pushed prices lower.
The market is also awaiting the U.S. Commerce Department’s review of refined copper imports ahead of a key update to President Trump. Longer-term, copper remains supported by demand from AI, electrification, and energy transition themes.
Source: First Squawk