US tariffs on copper imports may be imposed in coming weeks – Bloomberg

According to information from insiders reported by Bloomberg, US tariffs on copper imports may be announced several months ahead of the scheduled deadline for the decision. The sources said it could happen within a few weeks.

In February, US President Donald Trump instructed the Department of Commerce to investigate the possibility of imposing tariffs on copper and submit a report within 270 days. However, according to an official familiar with the process, the administration is conducting the review at an accelerated pace and the results could be summarized well before the agreed-upon date, Bloomberg reports.

Donald Trump has previously announced his intention to impose duties of 25% on all copper imports.

Against that background, copper rose 3.1% to a record high of $5.3740 a pound during New York trading, before slipping slightly to $5.3005. The benchmark price in London dipped a little to $10,100 per ton, widening the price gap between the two contracts to more than $1,600 per ton.

The significant price difference between London and New York led to a sharp increase in copper supply flows to US warehouses. As Bloomberg experts note, this poses a threat of supply shortages in other regions.