Copper Price Hits Record Highs Amid US Tariff Uncertainty

Copper futures have reached record highs due to tight physical supply and uncertainty over potential US tariffs on refined copper imports.

The US has proposed a series of duties beginning at 15% in 2027 and escalating to 30% in 2028, but the final terms are still undecided.

Copper is currently trading below its short-term moving average but above both its intermediate and long-term averages.

The price is expected to fluctuate between $6.6992 and $6.8318 over the next two to three sessions, with a slightly higher probability of a downward move at 56%.