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Copper prices rise to three-month highs amid supply concerns, with limited impact from Iran situation uncertainties
Investing.com - On Monday, copper prices rose to their highest level in over three months, with supply shortages overshadowing the weak demand expectations triggered by the Iran war deadlock.
The London Metal Exchange three-month copper benchmark contract increased by 1.3% at 10:30 a.m. GMT, trading at $13,573 per metric ton, reaching its strongest level since January 29.
Copper prices are expected to rise for the sixth consecutive trading day, the longest streak since December last year.
Since the beginning of the year, copper prices have gained approximately 10%.
However, copper prices are still well below the peak levels reached in January.
This article was translated with the assistance of artificial intelligence. For more information, please see our Terms of Use.
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