Saginaw scrap metal recycler sees prices fall amid tariff uncertainty

Saginaw scrap metal recycler sees prices fall amid tariff uncertainty

David Rifkin says the price of copper fell 8 percent on Friday alone.

Copper Plunges More than 5% as Tariffs Hammer Metals and Miners

Copper prices plunged below $9,000 a ton in the biggest drop since March 2020 as worries over the impact of a worsening trade war sparked a heavy selloff in metals and mining equities.

Copper prices have plummeted by more than 10 percent in the past week due to major unrest on global stock markets caused by US President Donald Trump’s import tariffs. This is the sharpest weekly drop since the start of the coronavirus pandemic in early 2020. On the London metals market, the price of the widely used metal is now back below $9,000 per tonne.

Copper Posts Biggest Weekly Drop Since Covid Crash As Tariff War Hammers Commodities - Nemos News Network

President Trump’s “Liberation Day” tariff blitz—centered on reciprocal tariffs—followed by China’s retaliatory bazooka has triggered a growth scare in markets. Commodities are tumbling, reflecting concerns over deteriorating macroeconomic conditions as the tariff war escalates.  “Commodities taking a cue from the macro with WTI -9% to $61 (had to change this 3x to reflect lower prices) … copper down 5% and natural gas gas hovering around flat … …

"With a cumulative drop of almost 8% since Trump's speech in the Garden of Roses, copper confirms a pronounced bassist guideline, with no positive arguments in the short term," said Maximiliano Saldaña, an analyst for Capitaria's studies.

Copper Down Sharply After Tariff News - Archer Financial Services

COPPER May copper futures declined 4% on Thursday, reaching a three-week low after U.S. President... The post Copper Down Sharply After Tariff News appeared first on Archer Financial Services.