Copper Holds Record-Setting Plunge

2025-09-02 08:49 By Andre Joaquim 1 min. read

Copper futures held below the $4.5 per pound in September, trading in narrow range since their plunge in late July after the US government removed refined copper from its tariffed goods list.

The US government had threatened to place a broad tariff on copper goods but changed policy last minute to only apply to imports of semi-finished copper products in wires and pipes.

Therefore, purchases of ore, cathodes, and concentrates were waived from taxation, among the main materials that are imported by the US.

The move triggered a record-setting selloff in copper futures of nearly 20% within the session on the unwinding of warrants and metal that was shipped to the US to undercut the imposition of tariffs.

In the meantime, top Chinese copper miner Zijin noted that copper demand in China remains robust on datacenters and electrification technologies.

Still, refining capacity remains in surplus as firms compete for limited ore.



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