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The Economic Times

Business

Copper hits one-week low as Middle East escalation clouds growth outlook

copper United States Hormuz Oil Drone Inflation LME Strait of Hormuz the London Metal Exchange

Copper prices fell to a one-week low on Thursday, as renewed tensions in the Middle East pushed the dollar and oil prices higher, fuelling inflation and slowdown concerns.

Three-month copper on the London Metal Exchange was down 0.1% at $13,514.50 a metric ton, as of 0300 GMT, after falling to its lowest level since May 21 earlier in ‌the session.

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