US-Iran Detente Boosts Copper Prices Amid Eased Tensions

Copper prices have risen as tensions between the US and Iran ease, leading to decreased concerns about oil price pressures and global economic growth.

The London Metal Exchange saw benchmark copper increase by 0.32% to $13,688.5 a metric ton at 0700 GMT on Monday.

This rise comes after 13 nights of US airstrikes on Iran, which were suspended by the Pentagon on Friday.

In response, Iran has held fire for two days, and oil prices have tumbled as hopes of a diplomatic solution to allow shipping in the Strait of Hormuz are raised.