Group 1 - The U.S. President Donald Trump announced a 50% tariff on copper, which will include refined copper and semi-finished copper, aiming to strengthen domestic production of this essential metal [1][2] - Refined copper is the largest category of metal imported by the U.S., and its inclusion in the tariff list will have widespread implications for various sectors, including power grids, construction, automotive manufacturing, and consumer electronics [1][2] - The U.S. relies heavily on imports for copper semi-finished products, with an estimated 800,000 tons imported last year, indicating a significant gap between domestic production and demand [2] Group 2 - The tariff proposal is part of Trump's strategy to enhance the entire copper supply chain, from mining and smelting to processing and recycling [2] - Copper is crucial for multiple industries, and its demand is expected to rise significantly with the expansion of industrial production and infrastructure development, particularly in the context of AI and energy transition [2] - The construction of data centers, which heavily depend on copper for power transmission and high-performance electronic systems, is driving a structural increase in copper demand [2] Group 3 - Following the tariff announcement, industry representatives met with the White House Economic Advisory Council, requesting that the government refrain from imposing export controls on scrap copper [3] - Major metal companies, including Rio Tinto and Southwire, have urged the White House to limit the export of ores and scrap metals instead of imposing tariffs on imports [3]

Core Viewpoint - The disruption in copper transportation in Peru is primarily due to protests from small-scale gold and copper miners, who are dissatisfied with regulatory restrictions and bureaucratic procedures [1] Group 1: Causes of Disruption - Protests have led to the establishment of roadblocks, hindering the transport of semi-finished copper from at least two major mines to shipping ports [1] - The trend of transportation disruption has only been observed over the past year, driven by rising metal prices and the upcoming elections in the country [1] Group 2: Implications for the Industry - Informal mining activities pose a threat to the development of new mineral deposits and increase global supply risks [1] - Major mining companies view the temporary registration of small mines as a cover for illegal activities [1]