An increase of the indicator value may contribute to the rise in quotes of Copper.
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Research agency BMI expects copper production to increase by 2.5% year-on-year by the end of 2025. According to the company's experts, this growth will occur due to production recovery in Chile and expanded mining operations at the Oyu Tolgoi deposit in Mongolia.
The 50% tariff on copper imposed by the United States, which takes effect on August 1, may negatively affect American buyers of the metal. Imposing duties on foreign copper purchases could increase production costs and undermine the international competitiveness of domestic manufacturers.
The US has announced a 50% tariff on copper imports, pushing Chile and Mexico, its top suppliers of the metal, to seek new buyers.
Red Cloud Securities strategist Ken Hoffman outlined multiple factors supporting higher copper prices this year in an interview with Bloomberg. The main one is growing demand for the metal, which plays a crucial role in the energy transition and the development of modern technologies.
Event announcement Copper
The USD publication is expected
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