Copper Prices Soar Amid Tariff Uncertainty

Copper prices surged to an all-time high of $14,779 per metric ton on the London Metal Exchange (LME) as investors reacted to ongoing uncertainty over President Donald Trump's import tariff policies.

The proposed 15% tariff on refined copper imports starting in 2027 and rising to 30% in 2028 has driven large volumes of copper into COMEX-approved warehouses in the U.S., reducing inventories on the LME and in China, the world's largest metals consumer.

Analyst Tom Price from Panmure Liberum noted that 'you can pick any big number when there's this much speculative capital behind a trading idea.'