Now or never??12 May 2026 19:28
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Copper Nears Record High as Traders Tune Out Trump's Iran RejectionBy Michael Kern - May 12, 2026, 12:00 PM CDT
Copper climbed as much as 0.5% to $13,643 a ton on the LME Monday, its highest intraday level since the January 29 spike, with the exchange's combined metals gauge closing Friday at a record.Trump rejected Iran's latest peace proposal as "totally unacceptable," extending the Hormuz blockade, but base metals are decoupling from the oil-driven panic that hit the complex in February.Grasberg disruptions, Chilean mining accidents, and a looming Chinese sulfuric acid export ban are squeezing supply just as AI data centers and clean-tech exports drive demand.