Copper futures rebounded to around $5.50 per pound on Friday after touching multi‑month lows in the previous session, supported by easing concerns over the Middle East conflict following reassurances from the United States and Israel. US President Donald Trump stated that Washington is not considering deploying ground troops against Iran, while Israeli Prime Minister Benjamin Netanyahu indicated that Israel would delay any further strikes on Iranian energy infrastructure.
Tensions in the region have weighed on metals markets amid fears that higher energy prices could dampen global manufacturing and overall economic activity. Even with Friday’s recovery, copper remains on track for a third straight weekly decline, as rapidly rising exchange inventories signal softer physical demand.
Analysts pointed to weaker consumption in China and reduced shipments to the United States, which have been further constrained by tariffs. At the same time, major central banks this week signaled a tilt toward tighter monetary policy, responding to persistently elevated inflation risks stemming from higher energy costs.
