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The United States intends to impose a 50% tariff on copper, with an anticipated implementation date set for late July or August 1. As this policy draws near, the short-lived "rush to ship" market phase has concluded. Consequently, export demand has waned, coinciding with the traditional off-season in the copper market. This combination may temporarily ease the tight supply-demand dynamics in non-U.S. regions, potentially leading to a short-term correction in copper prices on both the London Metal Exchange (LME) and the Shanghai Futures Exchange (SHFE). However, it is anticipated that the magnitude of this correction will remain constrained. Looking ahead, the long-term upward trajectory of copper prices remains promising, and the current correction presents investors with a favorable opportunity for strategic allocation.
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