According to Zhidu Finance APP, President Trump of the USA has once again triggered a major market shock with his protective trade policies on Industrial Metals. As news of his investigation into Copper imports continues to develop, the Global Copper prices recently broke through the key psychological barrier of $10,000 per ton, with the London Metal Exchange (LME) copper futures prices hitting $10,040 per ton during trading on Thursday, marking a nearly four-month high.

It is understood that the trade turmoil that began last month originated from Trump's request for the Commerce Department to investigate the status of Copper imports in the USA, which the market generally interprets as a precursor to imposing import tariffs. Traders, in an effort to avoid potential tariffs, are accelerating the shipment of Copper to the USA, leading to tightened supplies in other regions.

Wei Lai, vice trading director of Zijin Mining Group in Shanghai, pointed out: "This is a typical cross-market arbitrage spree triggered by tariff expectations, with goods being siphoned to the USA, causing spot shortages in other regions and creating an exceptionally high Bid sentiment."

It is reported that tariff expectations have directly pushed up the market premium in the USA: Copper prices at the New York Commodity Exchange (COMEX) have surged by 27% this year, while the increase in LME Copper prices, which mainly reflects the international market, is only 14%.

The huge price difference has stimulated global traders to enter a "transport mode"; industry estimates that over 0.1 million tons of Copper are rushing to US ports. Commodity giants like Trafigura and Glencore have urgently allocated inventories from Asia, and this "mass migration of Copper" has intensified the tension in the global supply chain.

This copper price uproar is the latest footnote in Trump's efforts to reshape the Global trade landscape. Following the previous 25% tariffs on Steel and Aluminum, his administration has imposed additional tariffs on multiple trade partners including Canada, Mexico, and China, and plans to implement a so-called "reciprocal" tariff policy starting next month.

Although the official conclusion of the U.S. Department of Commerce's investigation into copper imports will not be released until the end of the year, Goldman Sachs, Citigroup, and other Institutions predict that Washington is likely to impose a 25% import tax on copper by the end of 2025.

It is worth noting that the current LME copper price ($9,999 per ton) is still about 15% lower than its historical peak, but the expectation of tariffs has led to a significant premium in the U.S. market.

Analysts warn that if the tariffs are implemented, it will not only raise manufacturing costs in the USA, but it may also trigger a reconfiguration of the global copper pricing system. This metal trade war, sparked by protectionist policies from the White House, is reshaping the entire Industry Chain from mines to end manufacturing.