<\/p>\n
Copper held a gain as investors monitored progress toward a possible deal to end three months of war in the Middle East.<\/p>\n
The industrial metal was little changed near $13 680 a ton on the London Metal Exchange, having risen more than 1% on Friday. The LME was closed Monday for a public holiday.<\/p>\n
US President Donald Trump said negotiations with Iran over an interim deal to extend a ceasefire and reopen the Strait of Hormuz were \u201cproceeding nicely,\u201d while Pakistani military chief Asim Munir \u2014 the main interlocutor between the warring sides \u2014 told China an agreement was \u201cclose to being reached.\u201d<\/p>\n
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Optimism that a deal could be near was curbed, however, after US Central Command said American forces had struck missile-launch sites in Iran and vessels that it said were trying to place mines. The attack took place south of Larak Island and several Iranian personnel were killed, Iran\u2019s state-run Nour News reported, without providing further details.<\/p>\n
Copper has risen to near-record highs this month, supported by hopes for a peace deal that would ease inflation concerns as well as a flurry of bets on skyrocketing power use for artificial intelligence. Among its many uses, the metal is a crucial component in the data centers that power AI projects.<\/p>\n
Copper edged up 0.1% to $13 680 a ton on the LME as of 11:07 a.m. in Shanghai. Other metals were mixed, with aluminum down 0.2% at $3 644 a ton and nickel falling 1.3%. Zinc gained 0.7% to $3,567 a ton.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Copper #holds #gain #traders #track #prospects #USIran #deal<\/p>\n","protected":false},"excerpt":{"rendered":"
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