London, (Reuters) .- Copper prices in the United States rose more than 12% to a historical maximum above $ 12,330 per metric ton after President Donald Trump said he would announce a 50% tariff to metal imports.
Trump told journalists at a White House cabinet meeting who planned to make the announcement of the copper tariff later that day, but did not say when the tariff would enter into force.
In February, the United States initiated an investigation into the possibility of imposing tariffs on copper imports to support local production and encourage investment in new capacity. The investigation ends in November.
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The threat of tariffs on metal used in the energy and construction industries has created a mass premium for copper prices in Comex above those of the London Metal Stock Exchange, which are currently 9,585 dollars per ton.
Merchants expect the premium, also in a record of around $ 2,750 per ton, attract more metal to the United States.
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