Part 2/9:
In the wake of Trump's announcement, copper prices in the United States have surged dramatically. The Comex market, which serves as the benchmark for copper trading in the U.S., has seen prices spike well above typical levels—so much so that the premium over the London Metal Exchange (LME) price has ballooned to approximately 25%.
This escalation underscores the immediate market reaction to the threat of tariffs, which could be implemented as early as the end of July or August 1st. The premium reflects traders' anticipation of reduced supply and increased costs if tariffs are imposed, leading to a temporary divergence between regional and international copper prices.