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METALS-Copper rises on Middle East truce
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METALS-Copper rises on Middle East truce
Jun 25, 2025 4:16 AM

(Recasts, changes dateline and updates prices)

By Polina Devitt

LONDON, June 25 (Reuters) - Copper prices rose on

Wednesday supported by a tentative ceasefire between Iran and

Israel, which improved the overall market sentiment, and a

stronger yuan currency in top metals consumer China.

Three-month copper on the London Metal Exchange was

up 0.3% at $9,696.50 a metric ton by 1034 GMT.

The ceasefire brokered by U.S. President Donald Trump

appeared to be holding on Wednesday a day after both countries

signalled that their air war had ended, at least for now.

China's yuan edged higher against the U.S. dollar, nearing

its strongest level in a month. A stronger yuan makes

dollar-priced metals more attractive for Chinese buyers.

Providing further support, data by the International Copper

Study Group (ICSG) showed that the global refined copper market

was in a 50,000 tons deficit in April, compared with a 12,000

metric tons surplus in March.

For the first four months of the year, the market was in a

233,000 tons surplus, broadly unchanged from the same period a

year earlier, it added.

In other LME metals, lead rose 1.4% to $2,047.50 a

ton after hitting a three-month high of $2,049. China's lead

smelters have raised their offerings for used electric bike

batteries, in preparation for better lead demand in summer

months, and this helps primary lead prices too, a Shanghai-based

metals analyst said.

LME aluminium fell 0.5% to $2,566.50 as the

Iran-Israel ceasefire removed the immediate threat to the Strait

of Hormuz shipping lane for Middle East aluminium producers.

Zinc rose 0.8% to $2,703, tin gained 0.6% to

$32,420 and nickel climbed 0.6% to $15,005.

(Reporting by Polina Devitt, additional reporting by Hongmei

Li; Editing by Shailesh Kuber

Editing by)

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