1516 GMT - Copper price premiums in the U.S. have surged since President Trump initiated a Section 232 investigation into copper imports, raising the threat of tariffs on the industrial metal. LME three-month copper prices are up 1.3% at $9,617 a metric ton, though the May delivery U.S. copper price is currently trading around $756 a metric ton higher, Goldman Sachs analysts say in a note. No tariff level has been proposed, but the market should expect a 25% levy on copper imports by the end of 2025, Goldman says. The higher U.S. price before an actual tariff imposition will likely result in a 50%-100% increase in net copper imports in the coming months, and a 200,000 to 300,000 ton rise in U.S. copper inventories by the end of the third quarter, analysts write. (joseph.hoppe@wsj.com)
(END) Dow Jones Newswires
March 11, 2025 11:16 ET (15:16 GMT)
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