The copper prices on the London Metal Exchange (LME) are rising, similar to other base metals, after the US president played down concerns about the risk of a recession. American tariffs on steel and aluminium came into effect on Wednesday,

Morgan Stanley anticipates further gains in copper prices amid expectations of potential US tariffs. On Monday, copper for May delivery declined 0.8%, reaching $4.67 per pound ($10,274 per tonne) on the Comex market in New York. Despite this dip, prices remain 16% higher year-to-date in 2025.

A Trump administration investigation into copper imports has led to an after-hours rise of 20 cents per pound in Comex copper’s value.

Potential U.S. tariffs on copper are unlikely to curb imports but could push domestic prices higher, benefiting American producers like Freeport-McMoRan. Since the U.S. election, the Comex-LME copper futures spread

Base metal prices rise in London on Tuesday, as President Trump's universal 25% tariffs on steel and aluminum are poised to take effect from Wednesday, raising concerns that other metals including copper could be next in line.