Copper futures rose toward $5.9 per pound on Wednesday, ending a two-day decline and following a rebound across the broader metals market as investors monitored developments in the Middle East. The US-Israeli war on Iran entered its fifth day, with US President Donald Trump expressing concern that the strikes could bring a new Iranian leadership as troubling as the previous regime, highlighting the conflict’s uncertain trajectory.

Earlier this week, copper had been pressured as the Middle East tensions boosted the US dollar and raised risks to global manufacturing demand.

Traders also scaled back expectations for Federal Reserve rate cuts, now anticipating the next reduction in September instead of July.

Meanwhile, investors awaited policy guidance from China’s ongoing “Two Sessions” gathering.
Source: Trading Economics