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Copper Breaks Out on Trump Tariff Shock
Copper prices broke out to fresh all-time highs today with the futures market surging above the 5.2015 level set in 2024 to print new record highs of 5.3740. Selling has since kicked in causing some softening in price though the focus remains on further upside while price holds above the 5.2015 level. The driver behind the breakout move is a shift in tariff risks following news that Trump will push ahead with copper restrictions in the coming weeks. The tariff plans laid out previously for copper were not expected to take effect until later in the year. However, with trump now accelerating his plans the market is ... (full story)
