US-Iran Talks Face Delays

Updated: 5:14 PM PKT — June 19, 2026

The postponement of peace talks between the United States and Iran has sent ripples through global commodity markets, causing copper prices to fall for a second consecutive session. Benchmark three-month copper on the London Metal Exchange (LME) dropped 0.6% to $13,604 a metric ton. The downturn followed confirmation from Switzerland that the talks would not proceed as scheduled and the cancellation of a planned trip by US Vice President JD Vance, fueling market uncertainty.

The development also strengthened the US dollar, with the dollar index rising 0.3% to a one-year high, making dollar-denominated metals more expensive for holders of other currencies. While low copper inventories on the LME and Shanghai Futures Exchange offer some market support, renewed concerns about tighter US monetary policy are also contributing to the downward pressure on prices.