Copper Rises as Risk Assets Shrug Off More US Strikes on Iran

Copper prices rose as much as 1% in London, snapping a two-day loss, as investors focused on optimism over long-term demand from artificial intelligence rather than fresh US strikes on Iran. The industrial metal, used in wiring and renewable energy, stands to benefit from increased power demand from AI data centers.

Bloomberg -- Copper snapped a two-day loss as it shrugged off a fresh round of US strikes on Iran to focus on optimism over a longer-term demand boost from artificial intelligence. Most Read from Bloomberg - Microsoft's Xbox to Shift Obsidian Studio to New 'Fallout' Video Game https://www.bloomberg.com/news/articles/2026-07-08/microsoft-s-xbox-to-shift-obsidian-studio-to-new-fallout-video-game?utm campaign=bn&utm medium=distro&utm source=yahooUS - Trump Vents Anger With Iran and Warns Ceasefire May Be 'Over' https://www.bloomberg.com/news/articles/2026-07-08/trump-says-us-ceasefire-with-iran-is-over-after-strikes?utm campaign=bn&utm medium=distro&utm source=yahooUS - Nvidia's $1 Trillion Slide Sends Valuation to Pre-AI Boom Levels https://www.bloomberg.com/news/articles/2026-07-08/nvidia-s-1-trillion-slide-sends-valuation-to-pre-ai-boom-levels?utm campaign=bn&utm medium=distro&utm source=yahooUS - Greece Offers Bounty to Catch Ravenous Fish Lured by Warming Sea https://www.bloomberg.com/news/articles/2026-07-05/greece-offers-bounty-to-catch-ravenous-fish-lured-by-warming-sea?utm campaign=bn&utm medium=distro&utm source=yahooUS - Stocks Fall as US-Iran Jitters Spur Rally in Oil: Markets Wrap https://www.bloomberg.com/news/articles/2026-07-07/oil-jumps-on-iran-attack-asian-stocks-set-to-drop-markets-wrap?utm campaign=bn&utm medium=distro&utm source=yahooUS The industrial metal rose as much as 1% in London, tracking gains in Asian equities led by semiconductor firms. That partially trimmed a larger loss in the previous session sparked by the escalation of the Iran conflict. Copper is used for wiring and in renewable energy, and stands to benefit from a boost in power demand from new data centers for AI. The resumption of hostilities in Iran threatens to once again restrict energy supplies from the Strait of Hormuz, curbing economic growth and demand for industrial commodities like copper. The metal has largely traded in a relatively narrow range since an interim peace deal was signed last month, but may break lower if the war restarts in earnest. Rising energy prices may also shift the outlook for US inflation and lead to higher Federal Reserve interest rates, which tend to damp demand for non-yielding assets like metals. Minutes from the central bank's June meeting showed a few officials saying there was a case for further monetary tightening, although interest rates were left on hold. Copper rose 0.9% to $13,289 a ton on the London Metal Exchange as of 10:18 a.m. in Singapore. Zinc climbed 0.8% and aluminum added 0.3%. Most Read from Bloomberg Businessweek - More Workers Take Mental Health Leave, and Bosses Aren't Happy https://www.bloomberg.com/news/articles/2026-07-08/mental-health-leave-is-rising-as-more-us-workers-take-fmla-time-off?utm campaign=bw&utm medium=distro&utm source=yahooUS - At 17, She Sued Meta and Google, and Won. Now She's Ready to Tell Her Story https://www.bloomberg.com/news/features/2026-07-03/google-and-meta-lost-a-landmark-trial-to-kaley-but-kept-her-as-a-user?utm campaign=bw&utm medium=distro&utm source=yahooUS - How an Italian Bike-Parts Pioneer Fell Behind at the Tour de France https://www.bloomberg.com/news/articles/2026-07-08/tour-de-france-shimano-sram-outpace-campagnolo-in-bike-components-race?utm campaign=bw&utm medium=distro&utm source=yahooUS ©2026 Bloomberg L.P.