FX.co ★ Copper Wobbles as Tariff Uncertainty Weighs

Copper futures hovered above $5.80 per pound on Monday but struggled to hold earlier gains as shifting US trade policies unnerved global markets. On Saturday, US President Donald Trump announced that he would raise the newly introduced 10% global levy to 15%, after the US Supreme Court rejected his broader reciprocal tariff plan, injecting fresh uncertainty into the economic outlook. While tariffs generally weigh on global growth and tend to suppress demand for commodities, downward pressure on the US dollar following Trump’s comments lent some support to copper and other metals. Investors also tracked expectations for a pickup in trading activity this week as Chinese markets reopened after the extended Lunar New Year break. Copper and other metals had rallied sharply in January before retreating, a move largely driven by speculative trading among Chinese investors.