Copper and most metals rose as optimism around U.S. diplomatic efforts to end
the Middle East conflict boosted risk appetite. Copper climbed 2% after
President Trump’s comments on Iran offering a “present” for negotiations, though
U.S. troop movements and uncertainty about Iran's response dampened optimism.
Copper has gained 3% this week, recovering from a recent 11% slump. Aluminum,
however, fell due to shipping constraints from the Strait of Hormuz. Goldman
Sachs raised aluminum’s price forecast despite weaker global demand.