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Investing.com -- Copper prices in London moved slightly higher in early trading as market participants evaluated the potential effects of President Trump’s 50% import tariff on the metal.
Three-month copper futures on the London Metal Exchange (LME) rose 0.1% to $9,671 per metric ton, following Wednesday’s volatile trading session.
ANZ Research analysts noted that the ultimate impact of the tariff would likely depend on its implementation details. "While refined metal is the likely target, any levy of semi-processed materials such as copper wires could cause even further disruption," they said.
The analysts also pointed out that copper flows into the United States are expected to strengthen in the coming weeks as a result of the tariffs. This could potentially tighten supply in other key markets, including Europe and China, which might put upward pressure on prices.
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