COMMODITY
Copper futures end sharply higher as tariff fears loom
Jun-03-2025

Copper futures ended sharply higher on Monday as traders bet that Trump would impose hefty duties on the metal used in power and construction. U.S copper touched a near two-month peak, widening its premium over benchmark London prices. President Donald Trump announced last week that he would increase the tariffs on steel and aluminum imports to 50%, up from 25%. Trump announced the new steel and aluminium levies, which take effect on June 4.

Copper futures for July delivery gained $0.181 or 3.87 percent to settle at $4.8585 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.1 percent at $9597 a ton (provisional).


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