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Copper futures settle marginally higher on Thursday

17 Jul 2026 Evaluate
Copper futures settled marginally higher on Thursday even as an escalation in US-Iran hostilities sparked a broad sell-off across metals markets. The US struck an oil tanker near Iran's main export terminal for the first time since the restart of the blockade, which fueled expectations that the Federal Reserve may need to hike rates to contain oil-fuelled inflation. Meanwhile, copper prices found some support from mounting supply concerns after a powerful storm swept across top producer Chile.

Copper futures for September delivery rose $0.001 to settle at $6.3420 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.13% at $13,598.50 a ton.

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