Copper Prices Retreat Amid China-US Tariffs as Mine Planners Scramble

Copper prices have retreated from record levels due to China-US tariffs, sending key signals for mine planners. The Comex September price dropped 0.5% to $6.5645/lb ($14,470/t), about 3% below Wednesday's $6.7775/lb peak.

China's July industrial profit growth slowed to 11.2% year-on-year, reinforcing that recent price spikes are driven by pre-tariff reshuffling ahead of US duties of 15% on refined copper from January, rising to 30% in 2028.

Southern Copper rose 2.1% to $218.23, widening its market-cap lead over Freeport-McMoRan to about $70 billion.