LME copper prices fall as escalating US-Iran war renews inflation risks, interest rate hike fears

Copper prices declined on the London Metal Exchange, with benchmark three-month contracts falling 0.64 percent to 13,398.5 dollars per metric ton amid escalating US-Iran conflict in West Asia. The geopolitical tensions triggered a broad-based sell-off across global commodity markets, with Brent crude rising 2.79 percent to 78.13 dollars a barrel on renewed inflation and interest rate hike concerns. A stronger US dollar and fears of prolonged high interest rates also pressured gold, silver, and base metals, while domestic MCX July copper futures traded marginally higher at 1,294.35 rupees per kg.