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Copper Soars as US Diplomacy in Middle East Fuels Risk Appetite

Bloomberg Markets •
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Copper prices surged higher on Thursday, lifting most industrial metals as optimism grew that Washington's diplomatic efforts to end the protracted conflict in the Middle East would boost global risk sentiment. Traders interpreted the potential for reduced geopolitical tension as a signal for increased industrial activity and economic growth, driving demand for copper, a key component in construction and manufacturing. The rally followed a series of high-level diplomatic engagements aimed at de-escalating regional tensions, which investors viewed as a positive development for commodity markets. Copper now trades significantly above its recent lows, reflecting the market's bullish reaction to the shifting geopolitical landscape.