2025.08.2717:10:07UTC+00Copper Eases to $4.4

Copper futures experienced a decline to $4.4 per pound on Wednesday, reverting to levels last seen when the United States government excluded refined copper from its list of tariffed goods. This development comes in the context of abundant supply and uncertain demand. Initially, the US government intended to impose extensive tariffs on copper goods; however, a late-stage policy adjustment resulted in tariffs applying only to imports of semi-finished copper products, such as wires and pipes. Consequently, imports of ore, cathodes, and concentrates were exempt from these taxes, as these are the primary materials imported by the US. This decision sparked a record-setting selloff in copper futures, with prices plummeting nearly 20% within the trading session. This was followed by the liquidation of copper futures and warrants in the US as traders moved metal before the potential imposition of tariffs. Meanwhile, the US Geological Survey has recommended including copper in its 2025 draft list of critical minerals, a step that could potentially unlock funding incentives and expedite the permitting process for exploration, mining, and processing projects.