What caused the recent surge in copper prices, according to the news?

Copper prices surged because an interim US-Iran peace agreement eased fears over global economic growth and boosted optimism for metals demand; specifically, the deal included ceasing hostilities, reopening the Strait of Hormuz, and beginning negotiations on Iran’s nuclear program — removing a major downside risk for copper at a time when analysts are relatively bullish.

How has copper performed since the US and Israel launched attacks on Iran in late February, and what other factors are supporting its gains?

Copper is up around 4% since the US and Israel launched sweeping attacks on Iran in late February; additional support comes from optimism over demand from artificial intelligence and clean energy, as well as the prospect of US import tariffs — with Jefferies Financial Group Inc. recently ramping up its copper forecasts while cautioning about near-term price volatility ahead of the White House’s decision on copper levies.

Copper Prices Surge Following US-Iran Peace Deal

Jun 14, 2026

Copper prices climbed up to 1.4% after a US-Iran interim agreement eased geopolitical tensions, boosting demand optimism. The metal reached $13,864 per ton on the London Metal Exchange, driven by AI and clean energy sectors.

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