Copper prices rally driven by potential US import tariffs- strategist By Investing.com

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Copper prices rally driven by potential US import tariffs- strategist

Published Mar 06, 2025 07:48

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Investing.com -- The recent rally of copper in New York is primarily driven by the risk of tariffs on US copper imports, and not by supply-demand dynamics, BCA strategists said in a note.

This rally is expected to completely unwind if the tariffs are not imposed.

However, if the US does impose tariffs on copper imports, the prices on the Chicago Mercantile Exchange (CME) will trade at a substantial premium compared to the London Metal Exchange (LME) and Shanghai Futures Exchange (SHFE) prices.

The potential for tariffs comes in light of President Trump's recent Tuesday speech to Congress, where he indicated the administration's objective to substantially revive and expand the metals refining capacity in the US.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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