Metals Rally Stalls as Traders Await Iran Reply to US Proposal

Copper edged lower with aluminum while Iran evaluates a fresh proposal from US President Donald Trump to end a conflict that’s nearing the 10-week mark.

Most industrial metals had surged on Tuesday and Wednesday on growing optimism for deescalation of a war that’s pushed up energy prices and threatened the global economy. Tehran is now mulling a one-page memorandum from the US that proposes a path to reopening the Strait of Hormuz.