Copper Extends Retreat as US-Iran Stalemate Fuels Inflation Fear

Copper extended its retreat as deepening inflation concerns tied to the Iran war and weaker-than-expected Chinese data weighed on industrial commodities.

US President Donald Trump renewed threats against Iran as the two sides remain far apart on a deal to end the conflict and reopen the Strait of Hormuz, driving oil prices higher. That fueled further speculation that central banks will need to keep tightening monetary policy, which could hurt metals by slowing global growth and crimping demand from manufacturers.