Copper Shrugs Off Middle East Uncertainty to Eye Record High

Copper headed toward its highest close ever — and other metals advanced — as traders shrugged off the apparent deadlock between the US and Iran to join a broader rally for risk assets.

All main contracts on the London Metal Exchange posted gains, after the bourse’s combined gauge of prices ended Friday on a record high. Metals from copper to zinc have been resilient in the face of the Middle East war, partly thanks to signs of demand outstripping supply.