FX.co ★ Copper Holds Firm on US-Iran Deal Hopes

Copper futures hovered near $6 per pound on Tuesday, trading close to six-week highs as both the United States and Iran signaled a willingness to resume negotiations aimed at securing a longer-term ceasefire before the current two-week truce expires. President Donald Trump said Tehran had reached out to Washington just hours after the US imposed a naval blockade on Iranian oil shipments in the Strait of Hormuz. Oil prices eased on expectations of a possible agreement, helping to alleviate inflation and growth concerns that have recently weighed on industrial metals markets. In Chile, the new government is moving to accelerate copper production beyond earlier forecasts by streamlining permitting and advancing regulatory reforms. On the corporate front, Chilean miner Antofagasta Plc is assessing early-stage opportunities in Argentina amid broader policy shifts in the region.