Following a correction lower at the start of the week, copper prices have recovered and since broken out to fresh highs for the year. A reversal lower in USD has been a big driver of the rally in copper. The shift in sentiment this week comes amidst a perceived reduction in trade war risk following news that Trump won’t apply blanket reciprocal tariffs but will instead adopt a country-by-country approach with tariffs to be implemented after April following a review period. The news has been interpreted as bullish for risk sentiment with overall tariff levels likely to be lower and the potential for some countries to ... (full story)