empty
 
 

08.07.202612:26:31UTC+00Copper Drops on Middle East Escalation

Copper futures fell toward the $6-per-pound mark on Wednesday, the lowest level in two weeks, as base metals retreated amid escalating conflict in the Middle East, which strengthened the US dollar and darkened the outlook for global manufacturing. The exchange of attacks between the US and Iran led Washington to move against Iranian energy sales, while President Trump declared the current ceasefire invalid. Rising energy costs pushed up borrowing costs worldwide, further weighing on the manufacturing outlook.

These pressures outweighed copper supply concerns stemming from a shortage of sulphuric acid in the Middle East since the start of the conflict, a key input in copper refining. The impact of the shortfall has been partially mitigated by higher shipments from alternative sources, with Canadian export volumes of non-metallic minerals—dominated by sulphur—surging 50% month-on-month in May.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $4000 more!
    In July we raffle $4000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


现在无法通话?
提出您的问题,用 在线帮助.
Widget callback