COMMODITY
Copper futures settle down on heavy selloff in industrial metals
Apr-05-2025
Copper futures settled down on Friday as worries over the impact of a worsening trade war sparked a heavy selloff in industrial metals. China announced that it will impose a 34% tariff on all imports from the US starting April 10, as a counter move after US President Donald Trump announced his reciprocal tariff move on Liberation Day. Copper prices weakened further as the US dollar rebounded against its major peers after Fed Chair Jerome Powell warned that Trump’s sweeping tariffs would likely push inflation higher.

Copper futures for May delivery fell $0.4265 to settle at $4.4020 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 6.26 percent at $8,780 a ton.

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