Latest news with #metalsmarket
Bloomberg
10-07-2025
- Business
- Bloomberg
Traders Race to Ship Copper to US Before Trump's New Tariff Hits
Metals are the latest market upended by President Donald Trump after he confirmed long-touted plans to impose a 50% import tariff on copper from August. 'America will, once again, build a DOMINANT Copper Industry,' Trump wrote on Truth Social. The move is likely to hurt American producers of everything from automobiles to appliances that rely on the metal. Copper traders are scrambling to get cargoes into the US before the new tariff comes into effect. Some are looking to shift deliveries into Hawaii and Puerto Rico to cut shipment times. Shipments from Asia to New Orleans typically take over a month, so any traders sending metal now would risk being caught on the wrong side of the tariff. The journey to Hawaii meanwhile is roughly ten days.
Bloomberg
09-07-2025
- Business
- Bloomberg
Bloomberg Daybreak: Turmoil in Copper Markets
On today's podcast: 1) President Donald Trump sowed chaos in metals markets by indicating the US would implement a higher-than-expected 50% tariff on copper imports, spurring a record spike in New York futures and a drop in the global benchmark. 2) Greg Abbott says authorities believe at least 161 people may still be unaccounted for in Kerr County, which was hit by devastating floods over the Fourth of July weekend. 3) Apple Inc. Chief Operating Officer Jeff Williams is retiring as the company's longtime No. 2, marking a major changing of the guard at an already tumultuous time for the iPhone maker.
Bloomberg
14-05-2025
- Business
- Bloomberg
Iron Ore Bounces Back to Six-Week High on Trade-War Truce Hopes
Iron ore rose as trade tensions eased, spurring optimism across a metals market that has been hit especially hard by global growth worries. Futures of the steel-making ingredient reached a six-week high, climbing nearly 2%, as the temporary truce in the US-China trade war held and US President Donald Trump said he is trying to open up the Asian country to American businesses. China also said substantial progress had been made in the talks, according to a coordinated joint statement on Monday.
