Copper futures rose dramatically following President Trump's plan for a 50% import tariff, pushing domestic prices to a 25% premium over global markets amid growing demand.

Trafigura, Mercuria, Glencore and IXM set for bumper profits from metal shipped into America ahead of new levies

While the cost of copper is going up for American businesses and consumers, the rest of the world is scratching its head while it enjoys a considerable discount on the price of copper.

June’s job losses pushed the region’s unemployment rate to 7.2 per cent, up from May’s 6.9 per cent – the second highest non-pandemic jobless rate since August 2016 (7.3 per cent), Statistics Canada reported Friday.

An indicator of copper import demand in top consumer China jumped 38% on Wednesday, suggesting robust appetite for the metal, after U.S. President Donald Trump's plans for a 50% import tariff drove down benchmark prices in London.

President Trump's threatened 50% copper tariffs have boosted prices for the metal in the U.S. far ahead of anywhere else, lifting the premium to roughly one quarter. Copper futures mainly trad

Fears of an upcoming 50% copper tariff have caused a spike in copper prices in the US, though the red metal’s price is falling elsewhere

Copper prices in the United States jumped more than 12% to a record high above $12,330 per metric ton after U.S. President Donald Trump said he would announce a 50% tariff on imports of the metal on Tuesday.