US Refined Copper Tariff Uncertainty Hits Global Copper Scrap Markets

The uncertainty over US refined copper tariff policy has returned, casting a shadow on global copper scrap markets.

The White House is yet to decide whether to impose tariffs on refined copper imports, weighing support for the domestic industry against higher manufacturing costs.

Copper prices fell by more than 4% at one point following the news. The tariff's impact on copper scrap extends beyond outright copper prices.

The past year saw tariff expectations widen the COMEX-LME spread, redirecting copper cathode to the US and supporting scrap prices elsewhere.