Copper Prices Soar Amid US Tariff Uncertainty

Copper prices have surged to their highest level since mid-May as uncertainty over potential import tariffs continues to attract more of the metal to the United States.

The three-month copper contract on the London Metal Exchange (LME) touched $14,178 a metric ton in early trade, marking its highest point since May 13. Although it later dipped slightly, remaining 0.08% lower at $14,099.50 as of 0325 GMT.

The most-active copper contract on the Shanghai Futures Exchange (SHFE) rose by 0.38%, reaching 107,580 yuan ($15,944.39) a ton after briefly touching its highest level since May 14 at 108,030 yuan.

This trend indicates tightening near-term supply, as reflected in the widening premium for LME cash copper over the three-month contract, which reached as much as $117.50 a ton on Thursday.