Donald Trump · Iran · Israel · Strait of Hormuz · Crypto Briefing
Copper rebounds as Trump argues US nearing end of Iran war
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The industrial metal surged on the London Metal Exchange as geopolitical optimism lifted commodity markets, though crypto remained unmoved.
Key facts
- On the London Metal Exchange, copper rose more than 1% between June 8-12 as reports of a ceasefire between Iran and Israel circulated alongside Trump’s comments
- For those watching copper specifically, the $13,441 per metric ton level from April represents the near-term benchmark
- Copper peaked at $13,441 per metric ton during that stretch, hitting a seven-week high in April before giving back some gains as the optimism proved premature
- Copper prices climbed sharply after President Donald Trump signaled that the US was close to ending its conflict with Iran
Summary
Copper prices climbed sharply after President Donald Trump signaled that the US was close to ending its conflict with Iran. On the London Metal Exchange, copper rose more than 1% between June 8-12 as reports of a ceasefire between Iran and Israel circulated alongside Trump’s comments. The Iran conflict has been particularly relevant because of its proximity to the Strait of Hormuz. The pattern throughout 2026 has been remarkably consistent.