Copper Shrugs Off Middle East Uncertainty to Aim for Record High

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

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