Commodities
Copper’s Bull Run Turns to Rout as Reality of Tariffs Bites
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Two weeks ago, copper prices were surging as traders warned that threatened US tariffs on the metal would squeeze global supplies. Now, bulls are confronting one of the market’s worst-ever selloffs as President Donald Trump’s broader trade war upends the outlook for demand.
The metal viewed as a bellwether for the global economy is in the midst of one of its worst slumps of recent decades. Prices collapsed on Friday alongside equity markets as Trump’s latest “reciprocal” tariffs prove far more onerous than investors feared, prompting retaliatory measures from China.