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U.S. copper stabilises to retain a premium over global benchmark
U.S. copper prices stabilised on Friday after the biggest one-day decline on record the previous day as the market continued to assess a surprise move by U.S. President Donald Trump to exclude refined metal from 50% import tariffs. U.S. September Comex copper futures rose 1.1% to $4.4015 per lb, or $9,703.70 a metric ton, by 1006 GMT after plunging by 22% on Thursday. Benchmark three-month copper on the London Metal Exchange added 0.1% to $9,616 a ton. Price pressure was applied by rising stocks in LME-registered warehouses and expectations of more inflows from massive inventories in the U.S. after Washington ... (full story)
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