Copper prices hit a new record Tuesday as traders braced for possible import tariffs under Trump, according to Mining.com. The front-month contract is up 29% year-to-date, widening the price gap between the U.S. and London Metal Exchange benchmarks. Trump ordered a Commerce Department probe into copper tariffs last month on national security grounds. Goldman Sachs and Citigroup forecast 25% import duties by year-end. Mercuria estimates 500,000 tonnes are being redirected to the U.S., tightening global supply.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Copper prices hit a new record Tuesday as traders brace for possible import tariffs
00:06under President Trump, according to mining.com.
00:09First-month contract is up 29% year-to-date.
00:12Why do the price gap between the US and London Metal Exchange benchmarks?
00:16Trump ordered a Commerce Department probe into copper tariffs last month
00:19on national security grounds.
00:21Goldman Sachs and Citigroup forecast 25% import duties by year-end.
00:26Procurio estimates 500,000 tons are being redirected to the US, tightening global supply.
00:31For all things money, visit Benzinga.com slash GSTV.