(April 8): Copper rose to a three-week high after the US and Iran agreed to a temporary ceasefire and reopening of the Strait of Hormuz, easing concerns over inflation and a global economic slowdown. Aluminium, the base metal most directly affected by supply concerns during the conflict in the Middle East, traded in a tight range. Risk appetite has rebounded, resulting in an increase in base metals positions on Wednesday, said Gao Yin, an analyst at Shuohe Asset Management Co. However, given the temporary nature of the ceasefire, metals markets will struggle to return to the liquidity-driven rally seen at the start of the year, she said. Other base metals on the exchange gained.

Source: The Edge Markets April 08, 2026 09:52 UTC