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Trump's Tariffs Ignite Copper Market Chaos and Hoarding

2/21/2026

46 8 Full Breakdown

Summary

Story summary

U.S. President Donald Trump announced tariffs on copper, triggering a shift in market dynamics.
Traders began stockpiling copper in the United States, which increased immediate demand and price volatility.
Copper prices surged, at times reaching 30% above London Metal Exchange levels.
The combination of trade barriers and hoarding is fragmenting commerce in the copper market.

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Story summary

U.S. President Donald Trump announced tariffs on copper, triggering a shift in market dynamics.
Traders began stockpiling copper in the United States, which increased immediate demand and price volatility.
Copper prices surged, at times reaching 30% above London Metal Exchange levels.
The combination of trade barriers and hoarding is fragmenting commerce in the copper market.