Copper is down by 2.02%
Copper decreased 2.02% to 4.3004 USD/Lbs
Morpher AI identified a bullish signal. The commodity price may continue to rise based on the momentum of the good news.
Copper is a widely used industrial metal that is heavily influenced by global economic conditions and trade policies. Today, copper experienced a strong bullish movement in the market.
COPPER commodity is up 5.1% on Apr 10, 2025 12:17
Copper decreased 2.02% to 4.3004 USD/Lbs
Copper futures in the US held above the $4.3 per pound mark on Thursday, retaining most of its rebound since hitting three-month lows two sessions prior after US President Trump paused his reciprocal tariff package for 90 days. The reciprocal tariff package had initially excluded copper, but brought levies on non-retaliating countries to 10% and eased recession fears in the world's largest economy, improving broad expectations of manufacturing demand. Still, copper futures are over 20% down from their record high of $5.3 touched on March 26th as Trump signaled he will still deliver tariffs specifically targeted at copper in upcoming weeks. The threat widened the premium of copper futures in the US against comparable contracts in the LME due to the stress that trade barriers would place on limited US copper smelting capacity. Also, the trade war with China was escalated to higher tariffs from both parties, pressuring the steady flow of copper scrap from the US to China.
Copper futures rose above $4.40 per pound on Thursday, building on gains from the previous session as investor sentiment improved following a shift in U.S. trade policy. The rally came after President Donald Trump reversed course on his reciprocal tariff package, lowering tariffs on imports from most U.S. trade partners to 10% for a 90-day negotiation window. The move eased concerns over trade barriers that had threatened to weigh on global growth and manufacturing demand. Copper, a key barometer of economic activity, had recently come under pressure amid fears that escalating trade tensions could push the global economy toward recession. While the policy reversal offered some relief, uncertainty lingers—top consumer China remains subject to a steep 125% tariff amid continued tit-for-tat measures between Washington and Beijing. It also remains unclear whether U.S. tariffs will directly target copper or related products.
Copper futures in the US surged 8.5% to $4.4 per pound on Wednesday after testing three-month lows of $4.05 earlier in the session, receiving some respite after US President Trump paused his reciprocal tariff package for 90 days. The reciprocal tariffs had initially excluded copper, but the move stoked hopes that countries could achieve deals with the US over the period to remove sharper trade barriers that would pressure global growth and manufacturing demand. Still, copper futures are nearly 20% down from their record high of $5.3 touched on March 26th as the US signaled to still deliver tariffs specifically targeted at copper in upcoming weeks. The threat widened the premium of copper futures in the US against comparable contracts in the LME due to the stress that trade barriers would place on limited US copper smelting capacity.
Copper futures in the US bounced toward $4.2 per pound on Wednesday after testing three-month lows of $4.05 earlier in the session, receiving some respite as supply concerns stateside countered mounting concerns that a recession will halt manufacturing activity. The bounce widened the premium for copper in US exchanges to comparable contracts at the LME, shortly after their quick narrowing from the advance of tariffs on copper by US President Trump, as the policy stresses limited American capacity. Copper futures slumped over 20% from their record high of $5.3 touched on March 26th after the aggressive, sweeping, tariffs imposed by US President Trump and retaliation from China pressured the manufacturing outlook in both top copper consuming countries, even though the specific measures exclude copper and energy.
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