Comex Cu rises as US-Iran tensions calm

摘要

LME base metals were mostly lower while Comex copper rose today as US-Iran tensions eased. Middle East tensions began cooling yesterday after the US signaled it does not plan military retaliation after the Iranian missile attack on US military bases in Iraq. Despite this, the long-term outcome over relations between the US and Iran will still be a worry for traders and investors. The US and China are due to sign a phase one trade deal next week, which may begin to wind down the trade war that has been weighing on market sentiment over the last year and a half. This may buoy markets now that immediate fears of a military conflict in the Middle East have been defused.