BUZZ-Potential Trump tariffs boost European copper miners amid higher prices

Reuters
26 Feb
BUZZ-Potential Trump tariffs boost European copper miners amid higher prices

** Shares in European copper miners rise as U.S. President Donald Trump is considering tariffs on copper imports

** KGHM KGH.WA, Antofagasta ANTO.L and Glencore GLEN.L. rise 2.3%-3%; Boliden BOL.ST and Anglo American AAL.L each up 1.5%

** The price for copper importers to the U.S. will have to rise following the tariffs, Robert Maj, Ipopema analyst, says, adding this is already reflected in the arbitrage between the London LME price and the COMEX price in New York

** This also causes the inventories in London to shrink and the raw material is being sent to the U.S., which in turn raises the LME price, Maj says

** The pan-European Basic Resources and Metals index .SXPP up 1.5%

(Reporting by Anna Banacka and Boleslaw Lasocki)

((Anna.banacka@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10