2026-03-23 08:06
publication
2026-03-23 08:06
Copper prices on the LME London Metal Exchange continue to decline and are at their lowest level in over 3 months. The escalating conflict in the Middle East limits investors' appetite on financial markets, brokers say.
Copper in 3-month deliveries on the LME is priced 0.7% lower. – USD 11,840.00 per tonne.
On Comex in New York, copper is priced at $5.2780 per pound, down 1.80 percent.
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On the SHF Metal Exchange in Shanghai, copper is priced at 91,800 yuan per tonne, down 2.75%.
Copper prices are falling, and the escalating conflict in the Middle East is limiting investor appetite in financial markets and raising concerns about global inflation and economic growth.
The war in the Middle East is entering its 4th week, and this has led to an increase in oil and natural gas prices.
This threatens to worsen economic conditions around the world and increase inflation, which will likely force central banks to adopt a more hawkish stance on monetary policy.
“Copper prices have not bottomed yet as the market takes into account the prospect of recession and inflation in its valuations,” said Yan Yuhao, senior analyst at Zhejiang Haikiang Co.
The analyst indicates that the drop in copper prices on the Shanghai stock exchange below 100,000 yuan per tonne resulted in significant purchases of the metal by Chinese producers.
At the end of the previous session, copper on the LME was USD 11,930.00 per tonne, down by USD 217.
Last week, copper on the LME fell by 6.7%. – the strongest since April 2025
At the end of January, copper prices reached a record high of over USD 14,500 per tonne. (PAP Business)
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