FX.co ★ Copper Rises as Sentiment Improves

Copper futures rebounded above $4.20 per pound on Tuesday, marking a likely technical recovery after shedding nearly 20% over the previous three sessions amid concerns over a tariff-induced global recession. Market sentiment improved following signals from US President Donald Trump expressing openness to trade negotiations with major partners, including Japan, raising hopes for an easing of global trade tensions. US Treasury Secretary Scott Bessent noted that nearly 70 countries have reached out to the White House to discuss tariff arrangements. Despite this, market volatility is expected to remain high as Trump has threatened to impose an additional 50% tariff on Chinese imports if Beijing does not remove its tariffs on American products. It is noteworthy that Trump's new tariffs exclude copper, gold, energy, and certain minerals not produced in the US.