Copper Prices Plummet Under Uncertainty of US Import Tariff

Copper prices have been on a rollercoaster ride in recent days due to uncertainty surrounding the U.S. copper import tariff.

The London Metal Exchange (LME) copper prices broke through to a new high earlier this week, driven by expectations that the U.S. will impose tariffs on refined copper.

A 15% tariff on refined copper is set to take effect on January 1, 2027, and increase to 30% in 2028, according to an updated assessment submitted by the U.S. Department of Commerce to President Trump in June 2026.

The uncertainty has caused a surge in refined copper imports into the U.S., leading to a decline in non-U.S. region inventories and pushing copper prices higher.