Copper Tariffs ‘Much Higher’ than Markets Expected, Supply Scramble

David Aspell says the market will care more about tariff threats if they’re made against bigger trading partners. He thinks copper tariffs of 50% are “much higher” than the market expected, and its price surge has already had rippling consequences. He is bullish on copper (/HG) overall. “The [countries] we import copper from are generally friendly” to us, he adds, “The speed in which it’s being implemented is quite surprising.”

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