Financial Times reports Iran and Gulf states will meet to push for a Strait of Hormuz agreement.

London Metal Exchange inventories: nickel +2,820 tonnes; lead -2,350 tonnes; zinc -1,775 tonnes; copper -275 tonnes; aluminium -250 tonnes; tin +45 tonnes.

Mohsen Rezaee, secretary of Iran’s Supreme National Security Council, said on the 10th that political actions by the IAEA will force some countries to withdraw from the Nuclear Non‑Proliferation Treaty (NPT). The IAEA Board of Governors on the 9th approved a resolution backed by the UK, France and Germany to refer alleged Iranian breaches of non‑proliferation obligations to the UN Security Council. Iran’s IAEA envoy Reza Najafi called the resolution a political tool rather than a technical document and said the IAEA should carry out technical duties, not serve any country’s political agenda.