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Copper futures settle down amid escalating uncertainty in middle east

20 May 2026 Evaluate
Copper futures settled down on Tuesday amid escalating uncertainty in the Middle East. US President Donald Trump warned that Washington could resume military strikes on Iran within two or three days if Tehran failed to accept US peace terms, despite previously cancelling a planned attack following appeals from Gulf allies. Copper prices weakened further by fresh signs of weakness in top consumer China’s economy, as retail sales and industrial production both fell short of expectations, while fixed asset investment unexpectedly contracted. 

Investors are cautiously looking ahead to the latest FOMC minutes and flash US PMI data for further insight into the outlook for monetary policy and economic activity.  Elevated energy prices stemming from the Strait of Hormuz closure are fuelling global inflation, driving expectations that central banks will keep interest rates higher for longer. 

Copper futures for July delivery fell $0.109 to settle at $6.2065 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 1.30% at $13,411 a ton.

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