Metal Prices Rattled as Chile Faces Stormy Weather, Iran Hostilities Flare Up
Metal prices retreated as the week ended amid an escalation in the hostilities between Iran and the U.S., while a huge storm bearing down on Chile rattled copper markets. However, damage to copper prices was tamped down due to supply concerns as adverse weather in Chile triggered concerns about disruptions to mine output. The selloff in industrial and precious metals started when news filtered through that for the first time since America resumed its blockade of Iranian ports, a tanker was struck by the U.S. Bond yields and the USD trended higher as concerns grew that the Fed would consider…