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Traders rushed to stockpile copper before Trump's tariffs. Now they're stuck with a lot of it.
Copper traders were caught flat-footed after refined copper was exempted from Trump's new tariffs. The exemption triggered a 20% drop in copper futures on the COMEX exchange. Traders now face excess inventory, with COMEX stockpiles at a 21-year high.
Nearby COMEX copper futures in late July rose to a new record high of $5.8950 a pound. Last week the bottom fell out of the ...
Capital Market on MSN3h
Base Metals Preview: COMEX copper lingers around four month lowCOMEX Copper continues to steady around $4.45 per pound mark on Tuesday, currently, up 0.28% on the day but still lingering around a four month low. The red metal is witnessing ...
U.S. copper prices surged due to fears of a 50% tariff on imported copper, but a surprise exemption for raw copper materials ...
The U.S. tariffs have caused COMEX copper prices to experience extreme price variance over the past months, leading to new ...
The latest data released by the Shanghai Futures Exchange (SHFE) indicated that SHFE copper inventories continued to decline in the week ending August 1, with weekly inventories decreasing by 1.2% to ...
US President Donald Trump's decision to exclude refined metal from his proposed import tariff led to an immediate and ...
By Lewis Jackson BEIJING (Reuters) -Benchmark copper prices on the London Metals Exchange rose at the open on Thursday as ...
Capital Market on MSN14h
MCX Copper zooms to Rs 886 per kg as INR falls near record lowCOMEX Copper is witnessing some buying support around a four-month low and currently trades at $4.47 per pound, up 0.27% on the day. The counter slumped over 20% last week, making it one of the worst ...
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