Copper Rises as Sentiment Improves
Enrichetta BronderCopper futures climbed back above $4.20 per pound on Tuesday in a likely technical rebound after losing as much as 20% over the prior three sessions, triggered by fears of a tariff-induced global recession.
Investor sentiment improved after US President Donald Trump signaled a willingness to engage in trade talks with key partners, including Japan, fueling hopes for a de-escalation in global trade tensions.
US Treasury Secretary Scott Bessent said that almost 70 countries have contacted the White House to negotiate tariffs.
Still, market volatility is expected to remain elevated as Trump has threatened to impose an additional 50% tariff on Chinese imports if Beijing fails to remove its own duties on US goods.
Meanwhile, Trump’s new tariffs do not apply to copper, gold, energy, and certain minerals unavailable in the US.
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