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Copper futures settle down on Monday

05 May 2026 Evaluate
Copper futures settled down on Monday after an exchange of fire between the United States and Iran in the Strait of Hormuz cast doubt on a potential ceasefire and sparked fears of further escalation in the conflict. Moreover, a stronger dollar also makes copper more expensive for international buyers, which often leads to lower demand and downward pressure on its price. Meanwhile, trading volumes were exceptionally thin because the London Metal Exchange (LME) was closed for the Early May Bank Holiday, and Chinese markets remained shut for the Labour Day holiday.

Copper futures for July delivery fell $0.138 to settle at $5.8465 a pound on the Comex metals division of New York Mercantile Exchange.

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