Goldman Warns on Copper as Iran War Threatens Global Economy

Copper is vulnerable to further declines if the Strait of Hormuz remains blocked, Goldman Sachs Group Inc. warned, as metals markets brace for President Donald Trump’s deadline for an Iran deal.

“We see the near-term risks as skewed to the downside if strait flows remain disrupted for longer than our base case, which would keep energy prices higher for longer and likely slow global economic growth,” analysts including Aurelia Waltham said in a note.