10 July | Other

Chile and Mexico consider alternative copper markets as US tariffs loom

Chile and Mexico consider alternative copper markets as US tariffs loom

The US has announced a 50% tariff on copper imports, pushing Chile and Mexico, its top suppliers of the metal, to seek new buyers. Both countries have already reduced their reliance on the American market, redirecting over half of their copper exports to China. However, the US remains crucial for both.

Chile is the largest copper supplier to the United States, which accounts for about 11% of its total copper exports and less than 7% of its refined copper shipments. Chilean Foreign Minister Alberto van Klaveren stated that the country is capable of finding new buyers. However, he emphasized that the US consumes nearly half of all imported copper and won't be able to ramp up domestic production quickly.

Mexico, which exports roughly 5% of its copper to the US, has stated it is prepared to redirect its shipments if necessary. Meanwhile, Mexican officials will continue discussions with their American counterparts during upcoming meetings in Washington.

Before the tariffs take effect, market players will likely rush shipments to the US to avoid additional costs. This could trigger a short-term surge in copper deliveries ahead of the restrictions being implemented.

Period: 30.10.2025 Expectation: 22800 pips
Buying ETHUSD if bullish reversal occurs
Today at 10:30 AM 13
Period: 30.10.2025 Expectation: 340 pips
Natural gas selloff as warm weather forecasts come into play
Today at 10:30 AM 16
Period: 30.11.2025 Expectation: 550 pips
Selling SPX down to $6,550
Today at 09:23 AM 9
Gold sell
Period: 31.10.2025 Expectation: 1000 pips
Selling gold in anticipation of stronger US dollar
Today at 09:21 AM 13
Gold sell
Period: 31.10.2025 Expectation: 10000 pips
Selling gold from $4,240 support
Today at 05:18 AM 21
Period: 25.10.2025 Expectation: 1600 pips
Selling GBPUSD amid lower UK inflation
Yesterday at 10:29 AM 35
Go to forecasts