Copper Prices Soar Amid Tariff Expectations

Copper prices on the London Metal Exchange have hit an all-time high after weeks of gains.

The recent surge in copper prices can be attributed to expectations that U.S. President Donald Trump might expand copper tariffs to include refined copper imports, causing traders to accelerate shipments to the U.S.

This has led to a tightening of short-term supply in other regions and a concentration of copper stocks in the U.S., with official U.S. Comex inventories surging eightfold since the beginning of last year to over 750,000 short tons.

Copper stocks have led gains, with Freeport-McMoRan up 7.52%, Hudbay Minerals up 7.34%, Southern Copper up 6.80%, and Teck Resources Limited up 4.57%.