Copper futures (HG1:COM) extended their rally on Thursday, rising around 2% as traders reacted to U.S. President Donald Trump’s announcement of a 50% tariff on imported copper, set to take effect on August 1.

President Trump's threatened 50% copper tariffs have boosted prices for the metal in the U.S. far ahead of anywhere else, lifting the premium to roughly one quarter. Copper futures mainly trad

Freeport-McMoRan shares jump as Trump imposes 50% tariff on copper; JPMorgan names the miner a top pick amid global supply crunch.

Trump’s 50% copper tariff threat is likely a bluff to drive domestic investment, with markets pricing in a far lower risk if it materializes at all.

London copper prices pared some earlier losses in volatile trading as traders digest President Trump’s announcement of a 50% U.S. import tariff. Gold futures slipped.

U.S. President Donald Trump broadened his global trade war on Tuesday as he announced a 50% tariff on imported copper and said long-threatened levies on semiconductors and pharmaceuticals were coming soon.

President Trump’s 50% tariffs on copper, due to start August 1, are causing unusual distortions in the metal markets. Copper is now 25% more expensive in New York than London. And there’s a rally in copper scrap.