ANZ Bank: AI demand expectations boost copper prices, while Middle East tensions and tariff concerns weigh on overall performance of base metals
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```htmlGolden Ten Data reported on May 28 that copper prices rose during early trading in Asia, with London Metal Exchange (LME) three-month copper up 0.2%, reaching $13,554 per ton. ANZ Bank research analysts stated in their report that the global artificial intelligence boom is fueling renewed optimism about demand prospects, benefiting copper prices. In particular, copper usage in Australia’s power infrastructure continues to grow, including in transmission lines and electrical equipment, further strengthening the bullish outlook for copper prices. However, overall, basic metals showed mixed performance, as signs of difficult peace negotiations between the United States and Iran subdued market sentiment, and the conflict in the Middle East may not end soon. ANZ Bank also pointed out that before potential tariff measures are introduced, increased US copper imports have raised concerns about tightening global supply.```
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