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Commodity Roundup: Copper Prices Top $10,000 Ahead of Trump's Potential Tariffs
After breaking 0.01 million dollars, how much longer can the price of Copper continue to rise.
Morgan Stanley believes that although the current supply fundamentals of Copper are solid, the rise in speculative positions and tightening term spreads may exacerbate market volatility. Additionally, any changes in tariff policies could lead to market reversals.
Is there a crazy rush before Trump's tariffs? A large amount of Copper is about to "flood" the USA ports...
According to four insiders familiar with the shipping situation, it is expected that 0.1 million to -0.15 million tons of refined Copper will arrive in the USA in the coming weeks; if they all arrive in the same month, it is expected to exceed the historical maximum import record of 136,951 tons set in January 2022.
"After the 'gold rush', the USA fiercely 'rushes for copper', causing copper prices to rise sharply, with LME copper futures exceeding 0.01 million dollars."
Under the threat of tariffs, USA importers are hoarding Copper, causing the price of COMEX copper and the premium on LME to rise to over 1,200 USD per ton, approaching the historical high set in mid-February. Analysis suggests that this premium is reshaping the Global Copper trade pattern, with Asia potentially facing supply shortages, and this chaotic situation is supporting the rise in Copper prices in the short term.
Record Copper Shipments Bound for U.S. Ahead of Likely Trump Tariffs - Bloomberg
Shares of Precious Metals Stocks Are Trading Higher Amid Strength in Gold and Silver. Gold Reached an All-time High.