American tariffs impact copper prices

Copper prices declined by 1.2% over the week, reaching their lowest level since January 2024, amid uncertainty regarding the potential imposition of American tariffs on refined copper. Despite the price drop, stock data indicate continued tight supply, with London Metal Exchange inventories at 117,600 tons, and Shanghai exchange stocks falling to their lowest levels since the beginning of the year. This underscores the strategic importance of the metal for use in sectors such as renewable energy and electrical industries, while also highlighting how trade tensions are impacting copper markets in both the short and long term.

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