Copper prices surged 1.1% to $13,737.50 a ton after Iran confirmed major progress in peace talks with the U.S., lifting hopes that Strait of Hormuz traffic will rebound.

The rally followed a shift in energy costs that have pressured manufacturing and industrial metals demand. With Iran already shipping millions of barrels last week, traders expect renewed flow through the choke point.

London Metal Exchange inventories fell to a three‑month low, supporting the price move. Other metals mirrored the trend: tin jumped over 3%, while nickel and zinc edged up more than 1%.

These gains signal a short‑term easing of inflation worries for investors and manufacturers dependent on copper‑heavy production chains.