Copper rose in Asian early trade, with LME three-month copper up 0.2% to
$13,554/ton. ANZ research analysts said in a report that the global AI-driven
demand surge has shifted market expectations for demand more positively,
benefiting copper. They highlighted rising copper use in Australian power
infrastructure — including transmission lines and electrical equipment — as
reinforcing the bullish case for copper. Overall base metals were mixed as signs
of difficult US-Iran peace talks damped sentiment and suggested the Middle East
conflict may not end soon. ANZ also noted increased US copper imports ahead of
potential tariff measures, which has raised concerns about tightening global
supply.
