FX.co ★ Copper Pressured by Global Recession Fears

Copper futures fell to approximately $4.75 per pound on Friday, marking a significant 7% decline for the week. This decrease is attributed to increasing concerns of a global recession, stirred by US President Donald Trump’s extensive tariff implementations and anticipated countermeasures from key trading partners. Trump has introduced a 10% general tariff on all imports, with higher duties targeting key copper-consuming regions including China (54%), the European Union (20%), Japan (24%), and India (27%). Further pressure on copper prices emerged when the White House clarified that Trump’s new tariffs exclude commodities such as copper, gold, energy, and certain minerals not available domestically. The metal had previously reached a record high in late March due to speculation about imminent copper-specific tariffs; however, prices have declined as these concerns have not yet come to fruition.