Reported 1 day ago
Copper prices increased on Monday as traders reacted to indications that President Trump's upcoming tariffs would be more focused than originally anticipated. The rise follows reports suggesting that the tariffs set for April 2 will be narrower, alleviating some investor concerns about global trade impacts. Consequently, copper futures surged on the London Metal Exchange, with prices hitting over $10,000 per metric ton, while New York's Comex saw similar gains before some retraction. The ongoing trade dynamics have led to a significant price gap between London and New York, driving traders to export copper to the U.S. for higher returns, leaving other markets, particularly China, in a supply crunch.
Source: YAHOO