Copper Holds Near $14,000 With Spotlight on Fragile Ceasefire

Copper held steady near a record, even as US President Donald Trump’s warning that the ceasefire with Iran was on “life support” sparked fresh turbulence across financial markets.

The bellwether industrial metal has rallied strongly in recent sessions on the back of a host of factors including a rebound in demand in China and a squeeze on Middle Eastern supplies of sulfur that poses a threat to some forms of copper production. It’s also become highly correlated to US equity markets as technology stocks have surged.