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Copper futures fell below $6.20 per pound on Monday, extending their decline for a third consecutive session. The drop came as mounting evidence that the Middle East–driven energy price shock is feeding broader inflationary pressures strengthened expectations of tighter monetary policy from major central banks.
In the latest geopolitical developments, President Donald Trump cautioned that Tehran is “running out of time” to reach an agreement with Washington, while Iranian media reported that negotiations remain deadlocked. The prospect of higher interest rates is heightening concerns about global economic growth and manufacturing activity, adding further pressure on demand for industrial metals.
Market sentiment was additionally undermined by fresh signs of weakness in China’s economy. Both retail sales and industrial production came in below forecasts, and fixed asset investment unexpectedly contracted, deepening worries about the demand outlook in the world’s largest copper consumer.
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