Commodities
Copper Price Rally Ignited by Tariff Uncertainty on LME
Copper prices have surged to near-record highs on the London Metal Exchange (LME), reaching an all-time high of $14,779 per metric ton. This marks the fourth consecutive session of gains for benchmark copper.
The price rally is largely attributed to uncertainty surrounding President Donald Trump's import tariff policies, particularly a proposed 15% tariff on refined copper imports starting in 2027, which could rise to 30% in 2028 if confirmed.
Tom Price, analyst at Panmure Liberum, believes that the price of copper may reach $15,000 per metric ton this week due to 'speculative capital behind a trading idea.'