Copper drifts lower on worries about tariffs hitting US demand | Metals Mine

  • Copper drifts lower on worries about tariffs hitting US demand

    From brecorder.com

    Copper prices slipped on Friday as investors worried that the 50% tariff on the metal due to be imposed on U.S. imports will erode demand, and as speculators unwound positions. Three-month copper on the London Metal Exchange was 0.6% weaker at $9,640 per metric ton in official open-outcry trading, down from the three-month peak of $10,020.50 touched on July 2. The contract was on track to shed about 2% this week, a second weekly decline. “Given that you have this punitive tariff in the U.S., you will have a dampening impact on demand,” said Carsten Menke, analyst at Julius Baer in Zurich. “Another element, I ... (full story)

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