MarketsJul 9, 2025
Trump’s Copper Tariff Bombshell Sparks a 13% Rise in Copper Prices, the Largest Single-Day Price Jump Since 1968
Industrial Metals
Rhea Lobo
Discover
The metal that powers modern civilization just got a price hike, and the construction industry is feeling the tremor. Trump’s announcement of a 50% tariff on copper imports sent futures rocketing over 13% to $5.68 per pound, marking the metal’s largest one-day price jump since records began in 1968. Commerce Secretary Howard Lutnick told CNBC he anticipates implementation “likely to be put in place end of July — maybe Aug. 1.”
Supply chain scramble: An acute supply squeeze that had been building for months suddenly collapsed as the tariff timeline compressed the window for profitable arbitrage trades from overseas warehouses. Shipments from European and Asian warehouses take weeks to reach American shores, meaning cargoes risk arriving after the new duties are implemented. Jefferies’ Christopher LaFemina warned the US lacks “nearly enough” domestic capacity to achieve copper self-sufficiency, predicting “continued significant price premiums in the US relative to other regions.”
