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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reflecting the US administration's shift toward tighter trade policies, the deadline for a decision on new import tariffs for refined copper is approaching. The US Commerce Secretary is scheduled to deliver a formal recommendation to President Donald Trump by June 30. According to reports, the market has already begun pricing in these risks, with the price spread between the COMEX and LME exchanges widening to approximately $400 per tonne.
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Sign InThese developments come amid mixed inflationary signals, with recent US labor market data showing the unemployment rate holding steady at 4.3% in May 2026 per market data. Analysts are closely watching how these tariffs might impact manufacturing costs, particularly as copper is a vital component in renewable energy and electric vehicle sectors. Compared to other metals, aluminum and steel markets experienced similar volatility during previous trade restrictions, reinforcing expectations of higher domestic costs in the US.
Traders should monitor current price levels as the deadline nears, with markets sensitive to any preemptive statements from the Department of Commerce. Looking at the economic calendar, while no direct metal-related events are scheduled for the next seven days, the OPEC meeting on June 7, 2026, could influence overall commodity sentiment. Focus will remain on the COMEX-LME spread as a primary indicator of the market's anticipation regarding the upcoming ruling.