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<Commodity>Copper Logs 3-Week Low as US-Iran Conflict Escalates
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Copper prices sagged to a three-week low as escalating conflict in the Middle East boiled up market concerns over accelerating inflation, rising interest rates and a slowdown in economic growth. Analysts at Everbright Futures said that the market expected the Federal Reserve to raise interest rates in wake of the intensified conflict, heaping pressure on base metal prices. Meanwhile, volatility in copper prices has kept Chinese buyers on the sideline ahead of the summer off-season. On the London Metal Exchange, copper once dropped to USD13,378 per ton, the lowest level since May 20. Zinc dipped 1%, while aluminum added 0.5% after plunging 2.3% on Wednesday (10th). Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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