Metals Fall as Trump Repeats Threat to Attack Iran Power Plants

Copper fell with other industrial metals after US President Donald Trump reiterated a threat to attack Iran’s civilian infrastructure should negotiations fail to end the month-long war.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Copper fell with other industrial metals after US President Donald Trump reiterated a threat to attack Iran’s civilian infrastructure should negotiations fail to end the month-long war.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.The US will strike Iran “extremely hard” over the next two to three weeks and could target “each and every one” of the country’s power plants, Trump said in a primetime TV address. Though he also said the military operation was “very close” to completion, the risks around escalation sent copper, aluminum and zinc lower. Oil futures surged.Metals markets have been shaken by supply disruptions from the Middle East and the growing prospect of an oil shock that batters the global economy and crushes demand. Copper’s decline in March was its biggest monthly drop since 2022.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Aluminum, meanwhile, notched its highest close in four years on Wednesday after Emirates Global Aluminium, the Middle East’s top producer of the metal, said Iranian missiles and drones had forced one of its smelters to halt output. But even aluminum was lower on Thursday.“Base metals including copper are now under threat of demand destruction, if global central bankers start to revert from their liquidity-easing cycle,” said Kelvin Wong, senior analyst at Oanda. Oil prices are the prime driver for markets, he said, and the upward trend for crude will remain intact as long as there is no clarity on flows through the Strait of Hormuz.In his speech on Wednesday, Trump urged allies who rely on Middle Eastern energy to resolve the near-closure of Hormuz, the strategic waterway through which a fifth of the world’s oil and liquefied natural gas typically passed before the war.Copper dropped 1.2% on the London Metal Exchange to $12,288 a ton by 1:27 p.m. Shanghai time, while aluminum fell 0.9% and zinc dropped 1.7%. Iron ore futures on the Singapore Exchange were slightly higher at $106.55 a ton.Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.