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Englishعربي
Englishعربي
Copper prices rose in Shanghai on Friday and were heading for a second straight monthly gain, as investors reacted to growing optimism that the United States and Iran could reach an agreement to extend their ceasefire. The move came alongside gains in Asian shares and a softer dollar, while oil prices fell on hopes that tensions in the region may be easing, according to reports from Asharq Al-Awsat and other market coverage.
The gains in copper reflected a broader “risk-on” mood in financial markets. As reported by Asharq Al-Awsat, most Asian stock markets rose on Friday on expectations that Washington and Tehran could agree to prolong their truce for 60 days. Separate market coverage also said the MSCI Asia Pacific index advanced, with equities in Japan and South Korea among the strongest performers, as investors welcomed signs that the conflict may be moving toward de-escalation.
The currency market showed a similar pattern. The dollar stabilized against major currencies on Friday but remained on track for a weekly loss, according to Asharq Al-Awsat, as reports circulated that the United States and Iran had reached an understanding to extend the ceasefire. A weaker dollar can support commodity prices, including copper, by making them cheaper for buyers using other currencies.
Oil and gold were moving in the opposite direction. Asharq Al-Awsat reported that gold was heading for a third consecutive monthly loss, while broader market coverage said oil prices fell more than 1% on Friday after reports of a 60-day ceasefire extension and renewed talks over Iran’s nuclear program. That easing in oil prices helped calm inflation worries, which also influenced expectations for interest rates and other asset prices.
The developments matter because copper is closely watched as a gauge of industrial demand and economic sentiment. When traders become more optimistic about geopolitics and global growth, money often flows into industrial metals and equities, while safe-haven assets such as gold can lose ground. The latest moves suggest investors were betting that a reduction in Middle East तनाव could improve market conditions, at least in the short term.
Still, the truce-related reports were not fully settled. Market coverage cited US sources saying approval from President Donald Trump was still needed, while Iranian state media said the deal had not been finalized. That leaves traders watching for any confirmation or reversal, with the next signals likely to come from official statements, further negotiations, and the market’s reaction to any change in shipping or energy flows through the Strait of Hormuz.