Copper futures climbed back above $5.8 per pound on Friday as the broader metals complex rebounded, but were still poised to finish the week lower as investors rushed for the dollar amid the escalating Middle East conflict and rising inflation concerns. The US-Israeli offensive against Iran has now entered its seventh day with no signs of easing, while Tehran launched a fresh wave of missile and drone strikes across the Gulf. Traders also contended with surging oil prices, which fueled fears of resurgent global inflation, supporting bets that the Federal Reserve will delay rate cuts and strengthening the dollar at the expense of other assets. In top consumer China, the government set a softer economic growth target of 4.5%–5% this week, reflecting persistent deflationary pressures and elevated US tariffs.
