Copper Plunges More Than 4%

2025-10-10 16:43 By Anna Fedec 1 min. read

Copper futures plunged more than 4% to below $4.9 per pound on Friday after President Trump warned of a “massive increase” in tariffs on Chinese goods.

Trump stated on social media that the possible measures were being considered in response to China’s recent “hostile” export restrictions on rare-earth elements and related technologies.

Meanwhile, disruptions in Chile and Indonesia continued to tighten global supply.

Chilean state miner Codelco produced 93,400 metric tons in August, its lowest monthly output in over two decades and down 25% from a year earlier.

A deadly July 31 accident at the El Teniente mine killed six workers, injured nine, and halted operations for more than a week, forcing the company to cut its annual production forecast.

Output at Indonesia’s Grasberg mine also remains limited after last month’s fatal accident.

Meanwhile, Canada’s Teck Resources lowered its annual production outlook to 170,000–190,000 metric tons from 210,000–230,000.



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