16.03.202606:54:20UTC+00Copper Remains Under Pressure

Copper futures hovered near $5.70 per pound on Monday, extending the losses of the past two weeks as a stronger US dollar and elevated Treasury yields continued to pressure the broader metals complex. Market participants also tracked rising geopolitical tensions in the Middle East after the US struck military targets on Iran’s main oil-export hub of Kharg Island over the weekend, intensifying supply risks and driving oil prices higher. Reports suggested Washington may soon unveil a coalition of countries to escort commercial vessels through the Strait of Hormuz, a move that could further shape energy markets and global trade flows. At the same time, worries about slowing demand from China, the world’s largest copper consumer, added to the bearish tone, with weaker construction activity curbing metal usage. In addition, higher energy costs and mounting inflationary pressures have dampened expectations for interest rate cuts by the Federal Reserve and other major central banks, creating further headwinds for non-yielding metals.