Copper prices (HG=F) hit new highs on Tuesday as investors anticipated near-term supply tightenings and escalating tariffs.
Futures on the Comex exchange in New York traded near $6.85 a pound, while copper on the London Metal Exchange touched $14,617 a metric ton to hit a second intraday record in a row.
Copper prices are up 21% year to date. Copper Miners (COPX) have also rallied 32% during the same period, according to Yahoo Finance's AlphaSpace data.
US buyers have been snapping up more of the commodity in expectation of higher tariffs. The energy transition and AI build-out are also sucking up supply.
On Tuesday, Canada increased levies on certain US imports to 50%, including certain US-made copper products, in response to American tariffs on Canadian products.
#products #futures
Futures on the Comex exchange in New York traded near $6.85 a pound, while copper on the London Metal Exchange touched $14,617 a metric ton to hit a second intraday record in a row.
Copper prices are up 21% year to date. Copper Miners (COPX) have also rallied 32% during the same period, according to Yahoo Finance's AlphaSpace data.
US buyers have been snapping up more of the commodity in expectation of higher tariffs. The energy transition and AI build-out are also sucking up supply.
On Tuesday, Canada increased levies on certain US imports to 50%, including certain US-made copper products, in response to American tariffs on Canadian products.
#products #futures
6 days ago
