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Trump's tariff threats have created arbitrage opportunities, prompting traders to rush to ship Copper to the USA.
The world's largest commodity traders are racing to ship Copper from as far as Asia to the USA, as Trump's threat to impose import tariffs on Copper has created a significant arbitrage opportunity. After Trump ordered the Department of Commerce on Tuesday to study the possibility of imposing tariffs on Copper, the price difference in Copper between the USA and other parts of the world sharply widened. Copper prices on the New York Commodity Exchange surged by 4.9%, with the spread against the London Metal Exchange's benchmark price exceeding $1,000 per ton; Copper prices in the London market rose by 1.2% to around $9,500 per ton on Wednesday. Sources revealed that some trading companies have been shipping Copper in recent weeks.
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