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Commodities

Copper Prices Surge on Hopes of Peace Amid US-Iran Conflict

Guavy AI Editorial Team
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Oil Copper
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Copper prices rose on Monday as oil prices fell after the US and Iran suspended hostilities, easing concerns about price pressures and global economic growth.

Benchmark copper on the London Metal Exchange traded up 0.9% at USD13,770 a metric ton in official rings.

Analyst Tom Price said the market is now waiting for some sort of resolution and it's trying to price in peace rather than an ongoing war.

The market was also focused on copper stocks in LME-approved warehouses, which have dropped 30% since the end of May.

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