Copper Rises as Traders Assess Potential for Ukraine Peace Deal

Copper rose towards $11,000 a ton in London as the market digested a report that Ukraine has agreed to terms for a US-brokered peace deal, bolstering sentiment at a time of tightening supply.

Prices climbed as much as 1.6% after ABC News reported that Ukraine officials had agreed to a 19-point plan to end the war. The US is holding discussions about a possible peace deal with Russian officials in Abu Dhabi, and Ukraine’s military intelligence chief is also attending meetings there. However, the talks could still fall apart.