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Copper futures slipped to around $5.8 per pound on Thursday, erasing gains from the previous session as the US dollar strengthened amid heightened uncertainty over the US-Iran conflict. The US-Israeli campaign against Iran has now entered its sixth day, keeping markets on edge over the risk of further escalation and a potentially prolonged confrontation. Reports suggested that Iranian intermediaries had approached the United States to sound out the possibility of peace talks, though Tehran later denied making any such overture.
In top consumer China, authorities set a more modest economic growth target of 4.5%–5% as policymakers contend with entrenched deflationary pressures and higher US tariffs. The country’s 15th Five-Year Plan also called for increased investment in innovation, high-tech industries, and scientific research, alongside initiatives to raise household consumption as a share of overall economic output.