FX.co ★ Copper Eases from Highs Amid Trade Uncertainty

Copper futures saw a decline to approximately $4.83 per pound on Thursday, stepping back from the peaks reached in the past three weeks as investors reconsidered the global trade landscape. The initial optimism over a potential easing of U.S.-China trade tensions waned. Although reports suggested the Trump administration might consider reducing tariffs in the wake of discussions with Beijing, China indicated its willingness to participate only if the U.S. refrained from further threats. U.S. Treasury Secretary Scott Bessent further tempered expectations by stating that no independent tariff reductions have been put forth, and formal negotiations are yet to start. Additionally, speculation that copper might be singled out in future trade strategies has fueled apprehension and simultaneously contributed to the recent price increase, as traders prepared for potential disruptions in supply.