Copper Set for Weekly Loss as Middle East Tensions Weigh on Demand Outlook

LME three-month copper fell about 1.4% on Friday, after edging up 0.1% on Thursday, and is set for a weekly decline of about 0.5%. According to Jin10, the move came as escalating tensions in the Middle East stoked inflation concerns and weakened the outlook for industrial metals demand, while global stocks also declined. BMI, a unit of Fitch Solutions, said copper is expected to trend lower over the next few months in the absence of a clear tariff-driven catalyst. The firm said weak industrial demand and the relatively limited supply impact from the U.S.-Iran conflict outweighed concerns about sulfuric acid supply, although low inventories continue to provide some support.