Midday close: China front-month futures mixed. Egg futures fell nearly 5%; Shanghai silver slid over 4%; platinum declined more than 3%; LPG, propylene, polypropylene and Shanghai gold dropped around 3%. On the upside, synthetic rubber, foundry aluminum alloy and No.20 rubber rose over 1%; ethylene glycol, Shanghai aluminum and Shanghai tin gained roughly 1%.

Pakistan Foreign Minister Durrani, at a quadrilateral meeting in Egypt with Egypt, Turkey and Saudi Arabia, said Iran will not block vessels transiting the Strait of Hormuz nor levy transit or service fees during a 60-day window. He said Pakistan had brought the US and Iran into talks for the first time in 47 years and that three technical teams are engaged in US‑Iran negotiations, covering nuclear issues, frozen funds and the situation in Lebanon. Durrani said he has briefed the foreign ministers of Saudi Arabia, Egypt and Turkey on a memorandum of understanding.

JP Morgan maintains a bullish view on copper and expects prices to continue rising over the next several quarters toward $15,000 per tonne.