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2025-08-01 17:17:56
Non-ferrous metals are under pressure across the board: Copper prices plummeted 2.6%, hit by a double blow from US tariff talk and weak demand! ⑴ Non-ferrous metal prices fell across the board on Friday (August 1st, Beijing time), with LME three-month copper falling 0.2% to $9,590.50 per ton. ⑵ LME three-month aluminum fell 0.4% to $2,552.50 per ton. ⑶ BMI analysts noted in a report that metal prices fell across the board this week, as the market digested US tariff talk, a stronger dollar, and weak demand. ⑷ Copper and aluminum prices fell 2.6% and 3.5%, respectively, this week. ⑸ BMI analysts said that New York-traded copper prices plunged more than 20% on Thursday after the Trump administration announced that tariffs would not apply to refined copper imports. ⑹ This nearly wiped out weeks of gains and significantly narrowed the premium between US and LME prices. ⑺ Other base metals, including aluminum and nickel, also declined due to continued weak demand. ⑻ LME three-month nickel fell 3.9% this week to $14,865/ton
