The price of copper on the London Metal Exchange rose above $10,000 per ton for the first time since October last year, and US buyers competed to import the metal ahead of potential tariff measures. LME copper prices have risen 14% since the beginning of this year. However, New York copper futures have risen 26%, and prices are close to record highs. This premium prompted traders and producers to continue to shift supply to the US until potential tariffs were implemented.

The price of copper on the London Metal Exchange rose above $10,000 per ton for the first time since October last year, and US buyers competed to import the metal ahead of potential tariff measures. LME copper prices have risen 14% since the beginning of this year. However, New York copper futures have risen 26%, and prices are close to record highs. This premium prompted traders and producers to continue to shift supply to the US until potential tariffs were implemented.