Copper Hits Three-Week High as Iran Ceasefire Lifts Sentiment

Copper rose to a three-week high after US President Donald Trump and Iran signaled readiness to hold talks to end the war in the Middle East during a proposed two-week pause in hostilities, even as Israeli strikes on Lebanon threatened to derail the fragile truce.

The industrial metal advanced 3.2% to settle at $12,709 a ton on the London Metal Exchange Wednesday as global markets rediscovered an appetite for risk. Aluminum, the base metal most directly affected by supply concerns during the Middle East conflict, fell 0.6%.