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Copper futures settle higher on Monday

12 May 2026 Evaluate
Copper futures settled higher on Monday as the market shrugged off the ongoing deadlock between the US and Iran over how to end the war and reopen the Strait of Hormuz. The surge was driven by shrinking supplies, partly due to the suspension of sulfur and sulphuric acid exports from the Middle East, which has impacted refined copper production. Additionally, a speculative longer-term demand outlook also fuelled the gains. Meanwhile, investors’ focus will be on the US Consumer Price Index (CPI) due on Tuesday and the Producer Price Index (PPI) scheduled for release on Wednesday.

Copper futures for July delivery rose $0.164 to settle at $6.4605 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 2.73% at $13,943.00 a ton.

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