The latest round of tariff implementations from the United States has landed on metals, this time centered on copper. As a reaction to a 50% tariff on copper trade with the United States, the open market price of the metal shot up by over 10% in a single day. Judging by how much demand there will be for it in the future, this theme may only be the beginning of a longer-term increase.
Any developing economy needs copper for housing and infrastructure, and even developed nations like the United States will always have a continuing need for this commodity, especially as the market share of electric vehicles (EVs) grows larger. However, there is one quiet boom happening right now in the technology sector that will likely push copper prices to heights not seen before.
