Copper advanced in New York and London to kick off a crucial month that should deliver more clarity on the Trump administration’s plans for levies on imports of the metal to the US.The US Commerce Secretary has until June 30 to give an updated recommendation to President Donald Trump on tariffs for refined copper — the most widely traded form.
Ahead of that decision, the premium of US prices over the rest of the world has expanded again, prompting a renewed flow of metal to American ports.That’s adding to other supportive factors to keep prices elevated, with the metal racking up a 5% gain in May.
Efforts by the US and Iran to negotiate a ceasefire have also helped drive metals higher, while enthusiasm for assets linked to artificial intelligence has spilled over to copper.Goldman Sachs Group Inc.
boosted its price outlook for copper on the London Metal Exchange, raising its end-year forecasts by more than 10% as it sees US stockpiling and weaker-than-expected mine supply keeping the market tight.
Copper will finish 2026 at $13,735....
