From Yahoo Finance: 2025-04-06 17:31:00

Copper prices plunged over 10% last week due to Trump’s trade war, hitting $8,780 a ton. Buyers are fleeing as US prices drop, causing chaos in the market ahead of Cesco Week in Santiago. Trump’s tariffs could lead to a US recession, affecting global copper demand and prices.

Traders who were rushing to ship copper to the US before tariffs are now facing a market with no bids and disappearing surcharges. JPMorgan predicts a US recession, while UBS warns of economic impacts on Asian economies. Goldman Sachs and Citigroup see copper prices remaining low this quarter.

Producers remain optimistic about copper’s long-term outlook despite the market turmoil. If the trade war triggers a recession, prices could plummet to $6,600 a ton. However, China’s response could lead to a copper boom. The industry faces challenges in finding new deposits and funding development amid price uncertainties.

Read more: Copper’s Bull Run Turns Into a Rout as Reality of Tariffs Bites