Why did copper prices rally from a three-week low, according to the news?

Copper rallied from its lowest close since mid-May because President Donald Trump claimed the US was on the cusp of ending the war with Iran—a conflict threatening the global economy—and suggested a deal could be signed as soon as that weekend, triggering gains across all six main contracts on the London Metal Exchange and lifting copper 1.2% to $13,643.50 a ton by 10:35 a.m. Shanghai time.

What did Trump say about the Iran deal, and what was the status of confirmation from Iran?

Trump stated that the pact with Iran isn’t finalized but that an agreement could be signed as soon as that weekend; however, there was no confirmation of this claim from Iran.

Copper Rallies From Three-Week Low as Trump Flags Iran Deal

Jun 11, 2026

Copper prices rebounded from a three-week low after President Trump indicated a potential peace deal with Iran, boosting gains across major metal contracts including aluminum and zinc on the London Metal Exchange.

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