In the right stock26 Mar 2025 05:02
Copper futures soared past $5.20 per pound on Wednesday, reaching a fresh all-time high amid reports that US President Donald Trump will impose copper import tariffs within weeks, significantly accelerating the original timeline. Trumpβs initial directives suggested copper tariffs would take effect later this year, citing national security concerns. The developments triggered a surge in US copper imports, with recent shipments totaling 500,000 tonsβfar exceeding the normal 70,000-ton monthly averageβas traders rushed to secure supply ahead of the tariffs. In response, US companies are exploring alternative sources for copper, particularly from South America, to mitigate the impact of tariffs. Adding to the bullish momentum, Glencore