Copper prices have surged and reached their highest level in more than five months. The London Metals Exchange (LME) benchmark copper price climbed to $10,009 per metric ton. This rise is fueled by concerns over potential U.S. tariffs on copper.
Recently, U.S. President Donald Trump launched an investigation into possible tariffs on copper imports. As a result, the premium for Comex copper over the LME contract surged to a record $1,259 per ton. This increase surpasses the previous peak recorded just a day earlier.
Analysts at ING suggest that copper prices will likely remain strong in the short term. Many buyers are rushing to secure supplies before any tariffs take effect. This front-loading of demand is tightening copper availability in other global markets.
While copper prices are surging, other base metals are showing mixed performances. The LME Nickel price dropped 1.9% to $16,095 per ton. Supply concerns eased after reports confirmed that Indonesia’s major nickel processing complex remained unaffected by recent floods.
On the other hand, aluminum and lead prices experienced slight increases. LME aluminum rose 0.1% to $2,672.5 per ton, while lead edged up 0.1% to $2,088 per ton. Zinc gained 0.2% to $2,931 per ton, and tin rose 0.1% to $35,040 per ton.
In China, copper prices on the Shanghai Futures Exchange (SHFE) also surged. SHFE copper rose by 1.0% to 81,440 yuan per ton. Aluminum followed with a 0.9% gain, reaching 20,855 yuan per ton. Meanwhile, zinc declined by 0.6%, lead remained unchanged, and nickel fell by 1.5%.
With tariff uncertainty looming, copper prices are expected to remain volatile. Investors should keep an eye on U.S. policy developments, as any confirmed tariffs could further disrupt global copper supply chains.
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Copper prices surge to a five-month high as U.S. tariff threats drive market uncertainty. Learn how this impacts global metal markets.
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