[adrotate group="2"]
MASSIVE SHOCKER: TRUMP’s 50% TARIFF ON COPPER ROCKS MARKETS!
Copper Prices EXPLODE as Trump Drops BOMBSHELL Tariff Announcement!
Hold onto your hard hats, folks! US copper futures just rocketed to an ALL-TIME HIGH after President Trump unveiled a jaw-dropping 50% tariff on copper imports—WAAAAAY more than anyone expected! Prices soared a staggering 17% in a single day, smashing records like they were made of glass!
Commerce Secretary Howard Lutnick spilled the beans: these tariffs could be hitting by the end of July! That’s right—this is the FIRST TIME copper imports are getting slapped with duties in the US, and the size of this tariff? Pure BOMBSHELL! The market was bracing for a mere 25% but instead got hit with the MOTHER OF ALL LEVIES!
Let’s rewind to February: Trump kicked off a Section 232 investigation into copper imports, but nobody was ready for this bombshell! While the investigation was set to stretch well into November, the sudden decision is already sending shockwaves through the market. Traders are rushing to buy before these tariffs sink in. But beware, there’s a dark side: a whopping 50% tariff could crash demand like a ton of bricks!
After skyrocketing over 40% this year, copper isn’t just a hot commodity—it’s the hottest ticket in town! Right now, the Comex warehouses are PACKED with more copper than the LME and Shanghai combined! But what happens when the tariffs kick in? Expect a MOONSHOT for US prices while LME prices may head south as buyers start to burn through their stockpiles!
America is hugely dependent on copper imports—last year, the US brought in an eye-popping 850,000 tons of copper, with Chile, Canada, and Mexico being the biggest suppliers. It’ll be a Herculean task to replace that influx with homegrown production anytime soon!
ENERGY SHOCKWAVES: BRENT OIL BOUNCES BACK OVER $70!
And that’s not all, folks! Brent oil prices are BACK in the game, crawling over the $70 mark even as OPEC+ sprung a surprise with a climb in August supply. Tensions in the Middle East don’t help, especially with Houthi attacks stirring up trouble in the Red Sea!
With the market tighter than ever, this trend looks set to continue through summer’s sizzling demand. Sure, the oil market may loosen a bit in the fourth quarter, but for now? Get ready for prices to keep on the rise!
API numbers just dropped, revealing a troubling jump in US crude inventories by a mind-blowing 7.1 million barrels, while Cushing crude stocks crept higher too. Yet, on the bright side, gasoline inventories dropped by 2.2 million barrels! But the tightening middle distillate market is still a cause for concern, keeping everyone on their toes!
And hold onto your seats: the EIA has lowered their US crude oil production growth estimates! Instead of a promising gain, we’re now looking at a growth of just 160,000 barrels per day—much less than originally thought. The drilling slowdown seems to spell trouble for 2026 too! Buckle up for a wild ride!
