Gate market data shows industrial metal prices pulled back as hostilities in the Middle East intensified. At the same time, the London Metal Exchange’s six-base-metals composite index reached a record high, with copper and aluminum prices moving higher and zinc climbing above $4,000 per ton. The report also said the worsening conflict between the United States and Iran pushed Brent crude back to nearly $100, adding to inflation concerns. The move put metals and energy markets in focus at the same time, as rising oil prices and strength in key base metals pointed to mounting pressure across major commodity markets. ChainCatcher cited Gate data for the market snapshot.
ChainCatcher reported, citing Gate market data, that industrial metal prices pulled back as hostilities in the Middle East escalated.
The London Metal Exchange’s six-base-metals composite index hit a record high. Copper and aluminum prices rose, while zinc broke above $4,000 per ton.
At the same time, the worsening U.S.-Iran conflict pushed Brent crude back to nearly $100, adding to inflation concerns.
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