Forex
Tariff-Driven Dollar Strength Weighs on Copper Prices
This week's market trends were heavily influenced by the escalating US-Iran conflict and the implementation of US tariff policies.
The Iran situation worsened, intensifying concerns over shipping and crude oil supply disruptions in the Strait of Hormuz, which drove up oil prices and fueled inflation expectations.
In response to the rising oil prices, the US dollar index strengthened, weighing on copper prices.
LME copper dropped by 2.18% to $13,360/mt from its high of $13,934/mt earlier in the week, while the SHFE copper contract fell 1.94% to 104,740 yuan/mt.