Core Viewpoint - The announcement of a 50% tariff on all imported copper by the U.S. President has led to a significant surge in copper futures prices, reaching historical highs, indicating potential market volatility and cost pressures across various sectors in the U.S. economy [1] Group 1: Market Reaction - On July 8, copper futures on the New York Commodity Exchange saw an intraday increase of 17%, peaking at a record price of $5.8955 per pound, marking the largest single-day increase since 1989 [1] - The closing price for copper futures on the same day was $5.68 per pound, reflecting a 13% increase [1] Group 2: Tariff Implementation - The new copper tariff is expected to take effect by the end of July or August 1, as indicated by the U.S. Secretary of Commerce [1] Group 3: Market Expectations - Analysts believe that the market had not anticipated such a high tariff, leading to a surge in copper purchases before the tariff takes effect, which will likely drive prices up in the short term [1] - However, as domestic copper inventories in the U.S. increase, the price surge is expected to stabilize [1] Group 4: Industry Impact - Copper is the third most consumed metal globally, essential for various applications in electronics, construction, and industrial equipment, indicating that the tariff could significantly impact multiple sectors, including automotive and electrical infrastructure [1] - In 2024, the total value of copper imports to the U.S. is projected to reach $17 billion, accounting for about half of total demand, with Chile being the largest supplier, exporting $6 billion worth of copper to the U.S. last year [1]
美宣布对进口铜征收50%关税,纽约商品交易所铜期货价格创新高
news flash·2025-07-10 00:49