July 11, 2025--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Copper prices have followed a sawtooth pattern in recent years, but with a pronounced upward trajectory, driven by surging global demand and a paucity of new supply. Earlier this week, they flirted with record territory, about $5 per pound, roughly double the price from the end of 2019. Then President Donald Trump stepped in and announced a 50% tariff on imported copper, most of which comes from Chile, Peru and Canada, effective August 1. The president's declaration drove prices up about 13%, the highest one-day percentage gain since the 1960s, according to Dow Jones Market Data.
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