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Copper prices (HG=F) are rising Wednesday morning, marking their greatest jump since November of 2022 as US President Donald Trump weighs a 25% tariff on copper.
Yahoo Finance Markets and Data Editor Jared Blikre joins Morning Brief with Seana Smith to examine price action as uncertainty around Trump's tariffs sends commodities higher.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
This post was written by Naomi Buchanan.
to commodities when you take a look at copper prices, they're surging. This morning after President Trump last night mentioned imports would be subject to a 25% tariff. Barry and Jared Blagree joining us now with the latest move to the upside that we're seeing, Jared.
Thank you, Shauna. I think it's instructive that this is the biggest jump for copper, 4.32%, that we have seen since early November of 2022. I'm going to put on a three-year chart here. In fact, we're also seeing the highest prices almost since May of last year. But back in 2022, that was when the demand picture for China was changing and that was because they were ending their zero Covid policy. Markets were looking ahead to the demand picture increasing for copper. Now, today, we have a different picture. We have supply concerns. We have elevated prices for copper because of tariffs. So, my argument is this is changing the picture for macro components. There are lots of levers here, and the playbook for this year is definitely different than anything we've seen in years past.
