ING’s Warren Patterson and Ewa Manthey note that Copper prices in New York and London have risen ahead of a key US tariff decision. The Commerce Department is considering phased import duties starting at 15% in 2027, widening the US price premium and drawing more shipments to US ports. They argue that ongoing tariff uncertainty is underpinning market sentiment.

US tariff review underpins Copper

"Copper prices in New York and London rose yesterday ahead of the US administration’s decision on potential import tariffs."

"The Commerce Department previously deferred immediate duties."

"It proposes phased tariffs beginning at 15% in early 2027, a plan now under review with an updated recommendation expected by the end of June."

"Anticipation of this decision has widened the US price premium, prompting increased shipments to US ports."

"Tariff uncertainty is likely to support market sentiment."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)