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Copper climbs to three-month high despite Iran-US uncertainty
Copper prices climbed during Monday trading to their highest levels in more than three months, as growing supply shortage concerns outweighed demand fears amid the ongoing stalemate surrounding the Iranian war.
Benchmark three-month copper on the London Metal Exchange rose 1.3% to $13,573 per metric ton by 10:30 GMT, marking its strongest level since January 29.
The industrial metal is now on track for a sixth consecutive session of gains, its longest winning streak since December.
Copper has gained around 10% since the start of the year, supported by concerns over supply disruptions and falling production at several major mines worldwide.
Despite the strong rally, copper prices remain below the record highs the metal reached in January.
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