Copper prices declined in global markets on Wednesday, primarily due to the strengthening of the US dollar and rising US Treasury bond yields.
These factors placed pressure on the market and contributed to weaker demand across the metals sector.
On the London Metal Exchange (LME), the benchmark three-month copper contract fell by 0.28 per cent to $13,374 per metric tonne. During trading, prices also slipped to $13,350, marking the lowest level since 8 May.
Meanwhile, the most actively traded copper contract on the Shanghai Futures Exchange dropped by 1.20 per cent to 103,160 yuan (approximately $15,142). The contract also touched 103,040 yuan during the session, its weakest level since 8 May.
According to market analysts, inflation concerns linked to the Iran conflict have further strengthened the US dollar. As a result, dollar-denominated metals have become more expensive for buyers using other currencies, leading to weaker demand.
Other metals also recorded modest fluctuations. On the LME, aluminium, zinc and lead posted slight declines, while tin remained broadly stable. In the Shanghai market, most metals also trended lower, with tin recording a comparatively sharper fall.
