Copper prices firmed on Monday, supported by emerging signs of a ceasefire between the United States and Iran that have alleviated immediate concerns over energy supply disruptions.
The industrial metal’s advance reflects a broader risk-on shift in commodities markets as traders recalibrate exposure to geopolitical volatility in the Middle East.
On the Shanghai Futures Exchange, the most-traded copper contract rose 0.27% to 105,010 yuan a ton.
The move comes as oil markets also found relief, with lower crude prices reducing input cost pressures for industrial users and signaling a de-escalation of the shipping risks that had previously weighed on global trade flows.
This development follows a sustained rally in industrial metals, with benchmark three-month copper on the London Metal Exchange climbing 2.1% to $13,437 a metric ton earlier in the week.
The recent strength has been driven by growing optimism that diplomatic talks between Washington and Tehran could pave the way for a broader agreement, stabilizing expectations for global supply chains.