COPX is trading 7.1% up today following a US-Iran ceasefire that has reopened the Strait of Hormuz and triggered a broad global market rally.
- Overnight global markets jumped on de-escalation relief, with major US futures gaining over 2% and Asian indices closing sharply higher.
- The move marks a shift from yesterday's oil-driven volatility to broad risk-on sentiment, benefiting copper miners through stabilizing commodity demand.
- Investors are pivoting toward industrial metals as geopolitical tensions subside and trade routes normalize.