Copper Prices Tumble on US Tariff Doubts

Copper prices are on track for their first weekly loss since June as doubts about US tariffs intensify.

The metal's recent rally has extended beyond fundamentally justifiable levels, according to analysts at BMI, a Fitch Solutions company. This is due in part to the uncertainty surrounding the potential imposition of import tariffs by the Trump administration.

Copper traders have been diverting hundreds of thousands of tons into the US in hopes of profiting from a tariff-driven spike in domestic prices. However, this optimism has been tempered by concerns that higher local prices could raise manufacturing costs.