Copper holds around $5 per pound mark

COMEX Copper futures tanked near one-week low of $5 per pound yesterday and stayed around the same mark today also as US President Donald Trump has stated that countries which side with the policies of the BRICS alliance that go against US interests will be hit with an extra 10% tariff. Dow Jones Index Futures stayed slightly negative following a significant decline on Monday. Tariff worries stayed in place. The US administration sent letters to a batch of countries confirming 25% levies to the 2nd and 3rd major US partners in Asia while the implementation is postponed to August 1, 2025 signalling openness to adjustments if a trade deal is reached leaving markets to wonder which taxes will be applied and when.

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