0636 GMT - Copper prices are likely to remain elevated as tariff uncertainties linger, ING commodities strategists say in a note. The metal has been hitting record high recently,driven by expectations of U.S. tariffs on refined copper imports. Markets are waiting for President Trump's decision on refined copper tariffs. The proposal is for a 15% duty from January 2027, before rising to 30% in 2028, they note. If approved, tariffs would keep drawing copper into the U.S. However, another exemption or delay could unwind the trade and ease supply tightness elsewhere. The three-month LME copper contract is 0.2% lower at $14,675.00 a ton.
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