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Copper Prices Swing as Gulf Strikes Dampen Iran Deal Optimism

Copper swung between gains and losses in a mixed session for metals, after the US carried out fresh strikes in the Persian Gulf and a deal to end the war with Iran remained elusive.

One kilogram copper bars at a wholesale metal market in Mumbai, India, on Thursday, Jan 8, 2026. The race for artificial intelligence and surging defense spending are set to intensify a projected shortage of copper as producers struggle to expand, according to a new study by S&P Global. Photographer: Dhiraj Singh/Bloomberg
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China Pledges to Retaliate If EU Imposes Trade Restrictions

China warned it would β€œresolutely” retaliate if the European Union proceeds with new restrictive trade measures, following a May 29 European Commission discussion on China policy.

Gantry cranes and shipping containers at the Shekou container terminal in Shenzhen, China, on Friday, Feb. 27, 2026. US and Chinese trade negotiators are slated to meet in mid-March, according to people familiar with the matter, signaling a planned summit between Donald Trump and Xi Jinping is pushing ahead despite American strikes against Iran.
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