President Trump is considering imposing a tariff on copper imports, according to a report from Bloomberg. The news sent copper prices to a new high.
The copper trade may be trying to get ahead of potential tariffs, says Kevin Green. He explains why it's recent move higher is unusual.
The US could introduce tariffs on copper imports in the coming weeks, according to people familiar with the matter. In February, US President Donald Trump directed the Commerce Department to open an investigation into potential copper tariffs and submit a report within 270 days, though it's now expected to be resolved sooner, said the people who asked not to be identified.
Fortescue's Andrew Forrest discusses his outlook for the commodities sector in an interview with Bloomberg Television on the sidelines of the Boao Forum in China. The billionaire founder says the mining group will "continue to build up" its copper option.
Power Metallic Mines Inc (TSX-V:PNPN, OTCQB:PNPNF) reported high-grade palladium and nickel-copper sulphide mineralization from its fall 2024 drilling program, confirming the expansion potential of its flagship project. Drilling in the Lion zone intersected the eastern plunge extent of mineralization, with one hole providing the deepest assayed intersection to date.
Copper prices surged to fresh highs this week as traders scrambled to secure supplies ahead of potential US tariffs that are reshaping global trade flows. On Thursday, COMEX copper futures climbed above $5.13 per pound, nearing an all-time high, while London Metal Exchange (LME) copper hit $10,000 per metric ton, trading at a 13.5% discount to US prices.
Copper equities appear set to rebound after a period of underperformance compared to copper prices, analysts at UBS believe. The analysts wrote in a note to clients that while the copper price has shown resilience and gained notably this year, copper equities have lagged, creating an opportunity for investors.
The metal has soared but for reasons that have more to do with tariffs and less with the economy.
Gold's recent rally to over $2,900 per ounce, hitting more than 40 all-time highs in the past year, is being driven by long-term central bank buying and a more recent squeeze in the physical gold market, according to David Finch, CEO of Ixios Asset Management.
TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) has welcomed the latest progress at the Los Azules copper project in Argentina, where McEwen Copper has applied for admission to the country's Large Investment Incentive Regime (RIGI). The move could bring significant tax benefits and regulatory stability as the project advances toward a construction decision.
Wolfe Research's Timna Tanners shares her top stock picks in light of President Trump's proposed tariffs. She expects the copper market will remain balanced, as demand from connected industries have levelled off drastically and large supply projects have come online.
Chile's power grids and major copper mines were coming back online on Wednesday after a major outage rocked the world's top producer of the red metal, with power companies working to restore the system to full operation, authorities said.