Prices for non-precious metals, particularly copper, have significantly risen on international exchanges. The main factor behind this surge has been the resumption of operations in Chinese markets following the end of the Lunar New Year celebrations. Additionally, increased optimism regarding a potential easing of American tariffs has positively influenced trader sentiment.
This is reported by Finway
Copper Price Dynamics and Market Changes
According to the latest exchange data, as of 6:01 AM Kyiv time, the price of copper has risen by 1.9%, reaching $13,116 per ton. This means that the price per kilogram of this metal is $13.12. This trend indicates a growing demand for copper, which is attributed to the revival of business activity in China and changes in global trade policy.
New Opportunities for China and the Global South
China is set to benefit from the reduction of sanctions, opening up additional opportunities for the export of goods that require significant amounts of metals. This became possible after the administration of U.S. President Donald Trump proposed a 15% tariff on imports, following a Supreme Court decision that deemed previous tariffs illegal.
“The U.S. Supreme Court has overturned the most economically effective tariff tool, but not the new tariff regime as a whole. Strangely enough, the main winners now are the countries of the Global South and China,” analysts at Allianz SE note.
Analysts emphasize that the current situation in the metals market favors the countries of the Global South and China, which can strengthen their positions in global export markets due to changes in trade barriers from the U.S.