US Copper Drops as Chile Seeks Tariff Exemption in Trade Talks

Copper traded on New York’s Comex slumped after Chilean Finance Minister Mario Marcel said the country will push for an exemption from a planned US tariff on the metal.

The metal slipped as much as 6.2% to $5.4265 a pound before paring some of the losses. The US imports about half of its copper, with Chile the largest supplier.