The global copper market was rocked after US President Donald Trump imposed 50% tariffs on copper imports, excluding refined metal, triggering a record 22% plunge in Comex copper prices. The surprise exemption wiped out a lucrative price gap between US and global markets, collapsing a 30% premium for New York futures over London. Traders who had rushed shipments to the US before the deadline now face glutted warehouses and uncertain prospects. While the move reinforces Trump’s supply security agenda, analysts warn it could disrupt global copper trade and delay domestic industry adjustments.
