Commerzbank: Copper prices rise as market awaits US tariff decision this month

It is expected that the United States will make a decision on whether to expand import tariffs to refined copper. Last year, anticipation of such tariffs pushed up LME copper prices, as U.S. buyers increased their copper inventories before potential trade restrictions were introduced, tightening supply outside the U.S. and supporting prices. "In anticipation of this decision, COMEX inventories have already risen again, while LME inventories are clearly declining," said Thu Lan Nguyen of Commerzbank. "This trend may intensify in the coming weeks."