Story perspectives

Copper Drops 3% as White House Delays Tariff Decision

By Drooid · Sep 11, 2026, 4:37 PM UTC · How we work

Summary

Story summary

Copper futures fell over 3% after reports the White House had not decided on refined-copper import tariffs.
Speculative funds and Chinese manufacturers bought, limiting the decline and keeping LME copper near $14,200 a ton.
Copper had hit a record $14,875 per metric ton earlier on September 10 before the reversal.
Shares of Freeport-McMoRan, Southern Copper and Teck Resources each fell about 7% to $70.43, $195.66 and $65.08.

History

Historical Context

In 2008, copper prices surged to $9,800 per metric ton as the global financial crisis spurred demand and speculative trading. The London Metal Exchange recorded a 4% price jump, while Freeport-McMoRan’s shares rose 6% to $78, reflecting investor optimism. Today, similar speculative buying by Chinese manufacturers and fund flows keep LME copper near $14,200 a ton, echoing 2008’s demand-driven rally. Such price volatility pressures United States policymakers to consider import tariffs, as the White House deliberates, potentially reshaping future commodity trade frameworks.

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Story summary

Copper futures fell over 3% after reports the White House had not decided on refined-copper import tariffs.
Speculative funds and Chinese manufacturers bought, limiting the decline and keeping LME copper near $14,200 a ton.
Copper had hit a record $14,875 per metric ton earlier on September 10 before the reversal.
Shares of Freeport-McMoRan, Southern Copper and Teck Resources each fell about 7% to $70.43, $195.66 and $65.08.

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