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Commerzbank questions recent surge in copper price given dodgy supply situation
The dramatic price increase in the copper market is not as dire as it seems. The copper prices dropped about $500 per ton on Friday after US President Donald Trump threatened to impose additional tariffs of 100% on China, starting next month. “A renewed escalation of the trade conflict would significantly impact both economies and, therefore, two of the most important markets for copper,” Thu Lan Nguyen, head of FX and commodity research at Commerzbank AG, said in a report. Although Trump adopted a conciliatory tone over the weekend, the market remained susceptible to further escalation and threat of increased ... (full story)