Why did base metals prices rise after Trump's comment about Iran attacks?

Base metals prices rose because President Donald Trump said that a new wave of US attacks on Iran would likely be 'short-lived', which eased concerns about further regional escalation that had previously hurt prices; the earlier airstrikes and Iran's retaliation had triggered a rush away from risk assets and caused crude oil prices to spike, but Trump's statement calmed market fears.

Which base metal gained the most, and what was its price and percentage increase on the London Metal Exchange?

Zinc gained the most among the six main base metals traded in London, rising 0.5% to $3,882.50 a ton on the London Metal Exchange at 10:54 a.m. in Shanghai.

Base Metals Gain Ground as Trump Says Iran Attacks Will Be Brief

Sep 2, 2026

Base metals advanced after President Trump indicated new US attacks on Iran would be brief, easing geopolitical fears. Zinc led gains on the London Metal Exchange, while copper and aluminum also recovered from earlier declines.

bloomberg

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