Copper prices on the London Metal Exchange (LME) are trading at their highest in five months amid rising demand and the risk of tariffs on imports of this metal to the United States.
On the London stock Exchange, quotations rose last week to $10,046 thousand per ton. In New York, copper futures are trading at $5.05 per pound.
According to the Financial Times, copper in the United States earlier this week cost $1,254 per ton more than in London, which is a new record since at least 2020.
Earlier, US President Donald Trump initiated an inspection on the "threat to national security from copper imports," which could lead to the imposition of duties on purchases of this metal abroad.
The United States already has 25 percent duties on steel and aluminum imports.
"Traders are rushing to supply the metal to the United States," said John Mayer, analyst at SP Angel, commenting on the record spread between oil prices in London and New York.
According to Natalie Scott-Gray, an analyst at StoneX, if a duty is imposed, this spread may exceed $2 thousand per ton.
