ING analysts highlight that Copper climbed on Friday and is on track for its first weekly gain of the month after President Trump extended the Iran deal deadline, improving risk sentiment. However, they stress that most industrial metals remain under pressure as US‑Iran uncertainty and the one‑month‑old conflict weigh on demand expectations and broader growth‑linked exposure.

Geopolitics and growth fears drive Copper

"Copper climbed on Friday and was on track for its first weekly gain this month after President Trump extended the deadline for Iran to strike a deal, lifting hopes of de‑escalation and supporting growth sentiment."

"Most industrial metals have fallen this month as uncertainty around US-Iran negotiations and the prolonged conflict – now approaching a one-month mark – keeps risk sentiment fragile."

"Heightened geopolitical tensions have raised concerns about inflation while also reinforcing fears of slowing industrial activity globally, weighing on demand expectations."

"Against this backdrop, copper prices have fallen around 7% so far this month, reflecting a broader reassessment of growth-linked exposure across the base metals complex."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)