President Donald Trump announced a 50% tariff on copper imports last week. This policy takes effect August 1. Officials cite national security needs.
Trump targets foreign copper to boost U.S. production. He protects domestic miners from cheap imports. Freeport-McMoRan gains potential $1.6 billion profit boost.
Copper prices diverged sharply in the last 24 hours. COMEX futures traded at $5.6120 per pound overnight. LME prices held near $11,000 per metric ton.
SHFE futures stayed around equivalent $5.00 per pound. U.S. premium hit record 138%. Traders hedged amid uncertainty. Overnight volumes remained light on COMEX.
Electronic trading showed 0.5% dip. Profit-taking followed Friday’s close. Tariff news drove last week’s 9.1% weekly gain. Importers stockpiled before deadline. Scrap recyclers benefit from domestic focus.
Fundamentals reveal supply deficits. Mercuria forecasts 700,000-ton concentrate shortage this year. Refined metal lacks 300,000 tons. Demand stems from EVs and renewables. Copper powers grids and data centers.
China stimulus lifts sentiment slightly. Yet downstream weakens at high prices. Auto sector faces $700 extra per EV. Suppliers invoke force majeure clauses.
Macro factors include strong USD pressure. Rate cut hopes buoy commodities. Geopolitical tensions add safe-haven flows. Technicals show bullish but tired trend. 4-hour chart displays ascending channel.
Price peaked at $5.85348 then fell 0.31%. SMA 50 stays above EMA 100. RSI cooled to 54 from overbought 80. Volume spiked green during rally.
MACD converges positive. Bollinger Bands widen on volatility. Support holds at $5.00 blue line. 1-day chart confirms multi-month uptrend. Price surged from $4.80 to $5.89 record. Doji candle signals indecision.
200-day SMA provides $4.80 support. RSI at 60 shows momentum loss. Stochastic crossed bearishly near 80. Fibonacci retracement eyes 38.2% level at $5.20. Resistance caps at wedge upper. Volume validates breakout.
Mercantile logic favors tariffs. They shield U.S. markets from dumps. Domestic output rises amid exemptions talk. Yet risks loom for buyers. Higher costs hit electronics and chips. India exports $2 billion copper items yearly.
Global chains reroute cargoes to China. Prices there dip as supply floods. Arbitrage opportunities emerge. Panmure Liberum predicts 16% U.S. demand drop. J.P. Morgan sees $8,300 per ton average in Q2.
ETF inflows hit $95 million. COPX fund rose 21% year-to-date. Investors bet on producers. Morgan Stanley notes COMEX reflects import costs. Hassett links tariff to war preparedness.
Story reveals protectionism’s double edge. Tariffs empower locals but inflate essentials. Business watches exemptions closely.v
Live Market IntelligenceCommodities — Live Market Board
Rio Times · Live Market Intelligence
Commodities — Live Market Board
-8.26%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| GOLD | 4,096 | -1.24% | +20.67% | 4,147 | 4,144 | 4,075 | 40,673 |
| SILVER | 59.15 | -1.46% | +50.58% | 60.02 | 60.36 | 58.91 | 8,393 |
| BRENT | 86.30 | -8.26% | +25.97% | 94.07 | 86.40 | 85.01 | 13,425 |
| WTI | 89.42 | +2.98% | +37.04% | 86.83 | 89.85 | 87.32 | 73,539 |
| COPPER | 6.45 | +0.02% | +11.35% | 6.45 | 6.54 | 6.44 | 8,013 |
| LITHIUM | 69.00 | -0.12% | +58.73% | 69.08 | 69.65 | 68.95 | 261,058 |
| IRON ORE | 161.91 | — | +64.76% | 161.91 | 161.91 | 1 | |
| SOY | 1,240 | +0.55% | +23.27% | 1,233 | 1,245 | 1,236 | 18,998 |
| CORN | 485.50 | +5.09% | +21.83% | 462.00 | 487.50 | 483.00 | 31,961 |
| WHEAT | 703.75 | -0.28% | +30.20% | 705.75 | 710.00 | 698.25 | 11,159 |
| COFFEE | 301.65 | -4.74% | +0.10% | 316.65 | 307.70 | 301.25 | 261 |
| SUGAR | 14.80 | +0.41% | -8.87% | 14.74 | 14.86 | 14.73 | 5,420 |
| COCOA | 5,420 | +1.73% | -35.78% | 5,328 | 5,436 | 5,412 | 68 |
| ORANGE JUICE | 147.50 | +2.57% | -56.17% | 143.80 | 150.50 | 140.55 | — |
| COTTON | 81.06 | +1.49% | +21.68% | 79.87 | 81.75 | 79.75 | 12,672 |
| BEEF | 219.20 | -3.30% | -3.45% | 226.68 | 222.55 | 218.83 | 22,518 |
| CATTLE | 336.15 | -3.83% | +1.40% | 349.55 | 344.00 | 335.00 | 11,864 |
| USD/BRL | 5.06 | +0.05% | -9.11% | 5.05 | 5.06 | 5.04 | — |
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