The price of copper jumps over 10 thousand dollars per ton before activating the Trump fee

Copper prices rose for the first time since October of $ 10,000 barrier per tonne on the London Metal Stock Exchange, as buyers in the United States accelerate the import of the most important industrial metal before imposing potential customs duties. Since the beginning of the year, copper prices have risen 14% on the London Stock Exchange, compared to a 26% jump in buyer -futures in New York, which is close to a record level. This price difference has stimulated traders and producers to transfer supplies to the United States before imposing any customs fees. Trump’s decision is this increase in prices after President Donald Trump ordered the US Department of Trade to investigate the imposition of possible customs duties on buyer based on concerns related to national security. This has urged buyers to accelerate their refined metal purchases during this month. Due to the strong demand, mineral trade companies such as “Travigora”, “Glinkor” and “Gunfor” have again shipping that is dedicated to Asia to the United States to meet the increasing demand, according to a report published by “Bloomberg” on Wednesday. According to expectations of “Goldman Sachs” and “City Group”, the Trump administration is likely to impose a 25% customs tariff on brass imports this year.