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2026.07.2704:00:23UTC+00Copper Steadies Amid Easing Mideast Tensions

Copper futures held above $6.30 per pound on Monday, stabilizing after last week’s sharp swings, as easing geopolitical tensions in the Middle East improved risk appetite. The United States and Iran paused mutual strikes over the weekend amid renewed diplomatic efforts, with President Donald Trump reportedly signaling openness to resuming peace talks. A steep decline in oil prices further bolstered sentiment by tempering inflation concerns and softening expectations for higher interest rates.

At the same time, copper remained supported by robust long-term demand prospects, underpinned by the global shift toward clean energy technologies and the rapid build-out of artificial intelligence data centers. On the supply side, signs of near-term tightness in China, the world’s largest copper consumer, lent additional support to prices, while severe storms in Chile, a key producing nation, heightened the risk of disruptions to copper output.

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