Copper: Prices hold near records despite Iran risks – Commerzbank
The post Copper: Prices hold near records despite Iran risks – Commerzbank appeared on BitcoinEthereumNews.com. Commerzbank’s Thu Lan Nguyen notes Copper prices are trading close to January’s intraday record despite renewed Iran–US tensions and higher Oil prices. Markets currently anticipate limited economic fallout as long as a Hormuz reopening deal is reached, but prolonged disruption could hurt growth. Additional support comes from slower Chinese Copper ore imports and potential supply constraints linked to sulfuric acid shortages. Tight ore supply and risk balance “However, the recovery seen in recent weeks across a wide range of financial markets (such as the stock market) has shown that the market currently fears only limited economic repercussions from the ongoing crisis in the Middle East.” “This is the case only if US and Iran leaders reach an agreement in the foreseeable future that allows for the opening of the Strait of Hormuz. The longer the blockade lasts, however, the mo