Trump just crashed the US copper market

The tariff will still apply to copper cabling. (Image: File)

Thu, 31 Jul 2025

By Ryan DezemberUS copper futures plunged roughly 20% in late trading Wednesday after President Donald Trump unveiled 50% tariffs on copper products but not on the raw material itself.It is the latest example of how Trump’s gyrating trade policies have whipsawed financial markets. If Wednesday’s after-hours drop holds through Thursday’s session (local times), it would mark copper’s biggest daily decline in records dating back to 1968, exceeding the 12% tumble on Oct 20, 1987, after what is known as Black Monday, when a p...

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