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2025-08-01 20:24:24
[Refined copper tariff exemption, why did U.S. copper futures make a "shocking reversal"? ] ⑴ After experiencing a record single-day plunge, U.S. copper futures prices stabilized on Friday. ⑵ U.S. President Trump unexpectedly announced that refined copper would be excluded from the 50% import tariff. ⑶ Although copper prices plummeted 22% on Thursday due to this news, September copper futures prices rebounded 0.8% to $4.391 per pound on Friday. ⑷ London Metal Exchange (LME) benchmark three-month copper fell 0.2% to $9,592 per ton. ⑸ Inventories in LME-registered warehouses continued to climb, with inventories doubling to 127,500 tons in July, a three-month high. ⑹ Despite this, traders pointed out that even with the price drop, Comex copper futures still have a premium of hundreds of dollars relative to LME prices, which limits large-scale outflows of U.S. inventories in the short term.
