The price of copper in the United States skyrocketed on Monday after President Donald Trump announced plans to impose tariffs on industrial metals. The premium of US Comex copper futures over those traded on the London Metal Exchange reached a record high of $920 per metric ton, driven by investor concerns about the impact of potential tariffs.
The price of copper in the United States rocketed on Monday after U.S. President Donald Trump pushed forward his plans to slap tariffs on industrial metals.
Trump was expected later on Monday to slap new 25 per cent tariffs on all steel and aluminum imports, on top of existing metals duties, in another major escalation of his shake-up of trade policy.Since Trump became president, Comex copper has traded at a premium to the LME, ranging from about around $250 to $500 as investors sought to price in the impact of potential tariffs.
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