Copper holds near $6.4 as global markets turn cautious

Copper futures hovered near the $6.4 per pound mark on Tuesday, trimming earlier gains as persistent geopolitical uncertainty in the Middle East kept inflation and interest rate concerns elevated. Market sentiment remained fragile despite ongoing diplomatic discussions involving Iran and Qatar, which fueled hopes of easing supply disruptions and a potential reopening of the Strait of Hormuz. Investors also monitored negotiations surrounding a temporary ceasefire framework that could see Washington lift its blockade in exchange for Tehran restoring shipping access through the strategically critical corridor. Global equity markets reflected the cautious tone, with Asian and European benchmarks trading mixed following recent US military strikes in the region, while US stock futures advanced on optimism that a potential US-Iran agreement could eventually stabilize geopolitical tensions. US futures rebounded strongly, with Dow Jones futures surging 300 points and Nasdaq-100 futures advancing 1% on optimism surrounding a possible US-Iran agreement.

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