Copper: Sentiment over tariffs improves – ING
|
Hopes Donald Trump’s next round of tariffs, due to be announced on 2 April , could be more measured supported industrial metals prices at the start of the new week, ING's commodity experts Ewa Manthey and Warren Patterson note.
Copper is likely to remain supported amid the front-running of tariffs
"On Friday, Trump signalled 'flexibility' in his plan for reciprocal tariffs. Reports over the weekend suggest tariffs could be narrower in scope and potentially exempt some industries. Copper is trading just below $10,000/t after advancing above this key level late last week."
"In February, Trump instructed the US Commerce Department to mull potential copper import tariffs. That triggered a sharp rally in copper prices and has traders shifting metal from global London Metal Exchange (LME) warehouses to the US. Copper is likely to remain supported amid the front-running of tariffs."
"And tightening of the ex-US physical market as more metal makes its way to the US ahead of any potential levies."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.