
Copper futures climbed to around $6.26 per pound on Friday, reversing losses from earlier this week as investor appetite for risk assets improved, led by a rebound in semiconductor and artificial intelligence-related stocks. Market participants also looked past the renewed fighting in the Middle East after reports indicated that the US and Iran will continue peace negotiations aimed at securing a lasting resolution to the conflict. Meanwhile, oil prices retreated from recent highs, helping ease inflation concerns and reduce fears of aggressive interest rate hikes, which improved the outlook for manufacturing activity. Even so, markets continue to expect the Federal Reserve to raise interest rates at least once this year. Copper, often viewed as a barometer of global economic growth, remained sensitive to shifts in the economic and monetary policy outlook.

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